Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Walter M. Fiederowicz sold 10,000 shares of Photronics stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $21.63, for a total value of $216,300.00. Following the completion of the sale, the director now owns 29,548 shares of the company's stock, valued at approximately $639,123.24. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Photronics Stock Up 0.6 %
NASDAQ:PLAB opened at $21.68 on Thursday. Photronics, Inc. has a 12-month low of $19.61 and a 12-month high of $31.60. The stock's fifty day simple moving average is $22.08 and its 200-day simple moving average is $23.49. The firm has a market capitalization of $1.38 billion, a P/E ratio of 10.37 and a beta of 1.43.
Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. The company had revenue of $212.14 million during the quarter, compared to analysts' expectations of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period in the prior year, the business posted $0.48 EPS. As a group, equities research analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current year.
Hedge Funds Weigh In On Photronics
Institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in Photronics by 216.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 762 shares during the period. Federated Hermes Inc. bought a new position in shares of Photronics during the 4th quarter valued at about $47,000. Parkside Financial Bank & Trust grew its position in shares of Photronics by 65.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 904 shares during the period. Menard Financial Group LLC bought a new stake in Photronics during the 4th quarter worth approximately $66,000. Finally, GAMMA Investing LLC raised its holdings in Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock worth $81,000 after buying an additional 516 shares during the period. Institutional investors and hedge funds own 88.38% of the company's stock.
Wall Street Analyst Weigh In
Separately, DA Davidson boosted their price target on shares of Photronics from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th.
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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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