Key Points
- EVP Christopher Progler sold 10,000 shares at an average price of $22.52 for proceeds of $225,200, trimming his stake by 4.99% to 190,591 shares (about $4.29M), according to an SEC filing.
- Photronics shares opened at $23.49 (up ~4.7%), trade in a 52-week range of $16.46–$31.60, and the company has a market cap of roughly $1.39 billion with a P/E of 13.35.
- Analysts hold a consensus of "Moderate Buy" with a $31 average target, and institutional investors own about 88.38% of the stock, with major position increases from firms like Victory Capital and LSV Asset Management.
Photronics, Inc. (NASDAQ:PLAB - Get Free Report) EVP Christopher Progler sold 10,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $22.52, for a total transaction of $225,200.00. Following the sale, the executive vice president directly owned 190,591 shares of the company's stock, valued at approximately $4,292,109.32. This trade represents a 4.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Photronics Stock Up 4.7%
Shares of PLAB stock opened at $23.49 on Wednesday. Photronics, Inc. has a fifty-two week low of $16.46 and a fifty-two week high of $31.60. The firm's 50 day moving average price is $23.00 and its two-hundred day moving average price is $21.27. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 13.35 and a beta of 1.54.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on PLAB shares. Zacks Research cut shares of Photronics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 13th. Wall Street Zen upgraded Photronics from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Singular Research upgraded Photronics to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Photronics in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.00.
Get Our Latest Stock Analysis on Photronics
Institutional Investors Weigh In On Photronics
A number of institutional investors have recently modified their holdings of PLAB. Victory Capital Management Inc. lifted its position in shares of Photronics by 699.0% during the third quarter. Victory Capital Management Inc. now owns 2,305,610 shares of the semiconductor company's stock worth $52,914,000 after purchasing an additional 2,017,052 shares during the last quarter. LSV Asset Management increased its holdings in shares of Photronics by 17.2% in the 2nd quarter. LSV Asset Management now owns 2,607,874 shares of the semiconductor company's stock worth $49,106,000 after acquiring an additional 383,355 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Photronics in the third quarter valued at approximately $8,416,000. American Century Companies Inc. raised its holdings in shares of Photronics by 8.8% during the first quarter. American Century Companies Inc. now owns 2,196,267 shares of the semiconductor company's stock valued at $45,595,000 after buying an additional 177,380 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Photronics during the first quarter valued at approximately $3,462,000. Institutional investors and hedge funds own 88.38% of the company's stock.
About Photronics
(
Get Free Report)
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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