John P. Jordan Purchases 3,000 Shares of Photronics, Inc. (PLAB) Stock
Photronics, Inc. (NASDAQ:PLAB) CFO John P. Jordan purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average price of $7.85 per share, for a total transaction of $23,550.00. Following the completion of the purchase, the chief financial officer now directly owns 31,000 shares of the company’s stock, valued at $243,350. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Photronics, Inc. (PLAB) traded down 1.26% during trading on Thursday, reaching $7.85. The company had a trading volume of 736,864 shares. The firm has a 50 day moving average price of $8.59 and a 200 day moving average price of $10.04. Photronics, Inc. has a 12 month low of $7.55 and a 12 month high of $12.10. The company has a market cap of $537.92 million, a price-to-earnings ratio of 41.32 and a beta of 0.52.
Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Monday, August 14th. The semiconductor company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $111.60 million during the quarter, compared to the consensus estimate of $115.14 million. Photronics had a net margin of 2.97% and a return on equity of 1.33%. During the same period in the prior year, the company earned $0.12 earnings per share. Analysts predict that Photronics, Inc. will post $0.19 earnings per share for the current year.
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Several equities analysts recently issued reports on PLAB shares. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. ValuEngine upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.00.
A number of institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. raised its holdings in Photronics by 18.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 5,267,874 shares of the semiconductor company’s stock valued at $49,518,000 after acquiring an additional 835,254 shares during the period. Vanguard Group Inc. raised its holdings in Photronics by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,952,069 shares of the semiconductor company’s stock valued at $27,750,000 after acquiring an additional 91,349 shares during the period. Alliancebernstein L.P. raised its holdings in Photronics by 24.1% in the 2nd quarter. Alliancebernstein L.P. now owns 2,135,442 shares of the semiconductor company’s stock valued at $20,073,000 after acquiring an additional 414,930 shares during the period. Renaissance Technologies LLC raised its holdings in Photronics by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,023,000 shares of the semiconductor company’s stock valued at $19,016,000 after acquiring an additional 23,200 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Photronics by 10.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,987,162 shares of the semiconductor company’s stock valued at $18,679,000 after acquiring an additional 183,533 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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