Photronics (NASDAQ:PLAB) Director Sells $297,000.00 in Stock

Key Points

• Director Kang Lee sold 10,000 Photronics shares at an average price of $29.70, generating $297,000 and reducing his direct holdings by 2.74% to 354,850 shares.
• Photronics shares fell 1.8% to $29.81, well below the 12-month high of $56.00; the stock has a market capitalization of approximately $1.76 billion and a P/E ratio of 10.50.
• The company exceeded quarterly expectations with $0.50 in EPS versus the $0.40 consensus and $216.05 million in revenue, while analysts maintain a “Moderate Buy” consensus with an average price target of $49.33.

Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Kang Lee sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $29.70, for a total value of $297,000.00. Following the sale, the director directly owned 354,850 shares of the company's stock, valued at approximately $10,539,045. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Photronics Stock Down 1.8%

NASDAQ:PLAB traded down $0.54 on Thursday, reaching $29.81. The company's stock had a trading volume of 575,041 shares, compared to its average volume of 1,580,589. Photronics, Inc. has a 12-month low of $20.05 and a 12-month high of $56.00. The stock has a 50 day moving average price of $30.08 and a 200 day moving average price of $36.14. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 10.50 and a beta of 1.35.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.10. The business had revenue of $216.05 million during the quarter, compared to analysts' expectations of $208.75 million. Photronics had a return on equity of 7.45% and a net margin of 19.05%.The company's revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. Photronics has set its Q4 2026 guidance at 0.400-0.560 EPS. Equities research analysts expect that Photronics, Inc. will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PLAB shares. Zacks Research upgraded shares of Photronics to a "hold" rating in a research note on Friday, August 14th. Weiss Ratings upgraded Photronics from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. Wall Street Zen raised Photronics from a "hold" rating to a "buy" rating in a report on Saturday, September 12th. Craig Hallum reaffirmed a "buy" rating on shares of Photronics in a research report on Friday, May 29th. Finally, Freedom Capital upgraded Photronics to a "strong-buy" rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.33.

Hedge Funds Weigh In On Photronics

Several hedge funds have recently made changes to their positions in PLAB. BlackRock Inc. purchased a new stake in shares of Photronics in the 2nd quarter valued at about $308,586,000. Vaughan Nelson Investment Management L.P. purchased a new position in Photronics during the 1st quarter worth approximately $47,902,000. Bank of New York Mellon Corp acquired a new position in Photronics during the second quarter worth approximately $12,374,000. Heartland Advisors Inc. acquired a new position in Photronics during the second quarter worth approximately $12,355,000. Finally, Empowered Funds LLC purchased a new stake in Photronics in the second quarter valued at approximately $8,843,000. Hedge funds and other institutional investors own 88.38% of the company's stock.

Photronics Company Profile

Photronics, Inc NASDAQ: PLAB is a manufacturer of photomasks, precision photographic plates used in the semiconductor and flat-panel display manufacturing processes. Photomasks transfer circuit patterns onto silicon wafers and display substrates, making them an important component in the production of integrated circuits, memory devices, flat-panel displays and other electronic products.

The company provides photomasks for a range of semiconductor applications, including advanced logic, foundry and memory devices.

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