Mitchell G. Tyson Sells 15,000 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Mitchell G. Tyson sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $19.97, for a total value of $299,550.00. Following the completion of the sale, the director directly owned 56,927 shares of the company's stock, valued at approximately $1,136,832.19. This represents a 20.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Photronics Price Performance

Shares of NASDAQ PLAB traded down $0.39 during mid-day trading on Friday, hitting $19.49. The company had a trading volume of 411,507 shares, compared to its average volume of 554,800. The company has a market capitalization of $1.17 billion, a PE ratio of 10.15 and a beta of 1.40. The business's 50-day simple moving average is $19.10 and its 200 day simple moving average is $20.59. 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 posted its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share (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 company had revenue of $210.99 million during the quarter, compared to analyst estimates of $212.00 million. During the same period in the prior year, the business earned $0.46 EPS. Photronics's revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts expect that Photronics, Inc. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLAB. Smartleaf Asset Management LLC raised its holdings in shares of Photronics by 216.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 762 shares in the last quarter. Byrne Asset Management LLC purchased a new position in Photronics in the second quarter valued at $40,000. Federated Hermes Inc. purchased a new position in Photronics in the fourth quarter valued at $47,000. Menard Financial Group LLC acquired a new stake in Photronics in the fourth quarter valued at $66,000. Finally, State of Wyoming purchased a new stake in Photronics during the 1st quarter worth about $98,000. Hedge funds and other institutional investors own 88.38% of the company's stock.

About Photronics

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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