Kang Jyh Lee Sells 4,882 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Kang Jyh Lee sold 4,882 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $18.35, for a total transaction of $89,584.70. Following the completion of the transaction, the director now owns 532,100 shares in the company, valued at approximately $9,764,035. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Photronics Trading Down 1.7%

Shares of Photronics stock traded down $0.32 during midday trading on Friday, reaching $18.71. The company had a trading volume of 263,387 shares, compared to its average volume of 555,808. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.75 and a beta of 1.38. The stock has a fifty day simple moving average of $18.82 and a 200 day simple moving average of $21.00. Photronics, Inc. has a 1-year low of $16.46 and a 1-year high of $31.60.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.08). The firm had revenue of $210.99 million during the quarter, compared to the consensus estimate of $212.00 million. Photronics had a net margin of 14.00% and a return on equity of 8.54%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. Sell-side analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on PLAB shares. Wall Street Zen downgraded Photronics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Craig Hallum started coverage on Photronics in a research note on Wednesday, June 11th. They issued a "buy" rating and a $32.00 target price for the company. Finally, DA Davidson reduced their price target on shares of Photronics from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th.

Institutional Trading of Photronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Photronics by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company's stock worth $23,739,000 after buying an additional 40,579 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Photronics by 1,761.0% during the 1st quarter. GAMMA Investing LLC now owns 64,169 shares of the semiconductor company's stock valued at $1,332,000 after purchasing an additional 60,721 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Photronics by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,868,889 shares of the semiconductor company's stock valued at $138,271,000 after buying an additional 29,681 shares during the period. Proficio Capital Partners LLC acquired a new position in Photronics in the 4th quarter worth $398,000. Finally, AlphaQuest LLC grew its holdings in shares of Photronics by 121.9% during the fourth quarter. AlphaQuest LLC now owns 24,050 shares of the semiconductor company's stock worth $567,000 after buying an additional 13,214 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.