Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Kang Jyh Lee sold 4,882 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $18.35, for a total value of $89,584.70. Following the completion of the sale, the director now directly owns 532,100 shares of the company's stock, valued at $9,764,035. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Photronics Trading Up 3.3%
Photronics stock traded up $0.60 during midday trading on Tuesday, reaching $18.92. 377,712 shares of the stock traded hands, compared to its average volume of 555,563. The company has a 50-day simple moving average of $18.75 and a two-hundred day simple moving average of $21.08. Photronics, Inc. has a 12-month low of $16.46 and a 12-month high of $31.60. The firm has a market cap of $1.14 billion, a PE ratio of 9.85 and a beta of 1.38.
Photronics (NASDAQ:PLAB - Get Free Report) last announced its earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.08). Photronics had a net margin of 14.00% and a return on equity of 8.54%. The firm had revenue of $210.99 million for the quarter, compared to analysts' expectations of $212.00 million. During the same quarter last year, the business earned $0.46 earnings per share. The business's revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.
Hedge Funds Weigh In On Photronics
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Photronics during the 4th quarter worth about $7,787,000. LSV Asset Management grew its stake in shares of Photronics by 13.8% in the 4th quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company's stock valued at $49,955,000 after purchasing an additional 257,373 shares during the last quarter. Boston Partners grew its stake in shares of Photronics by 45.3% in the 4th quarter. Boston Partners now owns 799,439 shares of the semiconductor company's stock valued at $18,893,000 after purchasing an additional 249,222 shares during the last quarter. Kestrel Investment Management Corp purchased a new position in shares of Photronics in the 4th quarter valued at approximately $5,163,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Photronics by 118.8% in the 4th quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company's stock valued at $8,655,000 after purchasing an additional 199,490 shares during the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Photronics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. DA Davidson lowered their price target on Photronics from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, Craig Hallum assumed coverage on Photronics in a report on Wednesday, June 11th. They set a "buy" rating and a $32.00 price target for the company.
Check Out Our Latest Research Report on Photronics
About Photronics
(
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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.
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