Insider Selling: Photronics, Inc. (PLAB) VP Sells 4,000 Shares of Stock
Photronics, Inc. (NASDAQ:PLAB) VP Christopher J. Progler sold 4,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $8.85, for a total transaction of $35,400.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Photronics, Inc. (NASDAQ:PLAB) traded down 3.21% during mid-day trading on Wednesday, hitting $9.05. 1,837,096 shares of the stock traded hands. The stock has a 50-day moving average of $8.01 and a 200 day moving average of $9.80. Photronics, Inc. has a 1-year low of $7.55 and a 1-year high of $12.10. The firm has a market cap of $623.89 million, a price-to-earnings ratio of 47.88 and a beta of 0.58.
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 Zacks’ consensus estimate of $0.09 by ($0.03). The business had revenue of $111.60 million for 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 last year, the firm posted $0.12 EPS. On average, equities analysts expect that Photronics, Inc. will post $0.19 EPS for the current year.
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Several research firms have commented on PLAB. BidaskClub raised Photronics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut Photronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One equities 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 company has a consensus rating of “Hold” and a consensus price target of $12.00.
Several large investors have recently added to or reduced their stakes in PLAB. Bank of America Corp DE lifted its holdings in Photronics by 0.5% in the first quarter. Bank of America Corp DE now owns 55,456 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 271 shares during the period. Legal & General Group Plc raised its position in shares of Photronics by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 15,818 shares of the semiconductor company’s stock worth $149,000 after buying an additional 679 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Photronics by 5.1% during the 2nd quarter. Principal Financial Group Inc. now owns 14,915 shares of the semiconductor company’s stock worth $140,000 after buying an additional 720 shares in the last quarter. Engineers Gate Manager LP raised its position in shares of Photronics by 5.7% during the 2nd quarter. Engineers Gate Manager LP now owns 27,627 shares of the semiconductor company’s stock worth $260,000 after buying an additional 1,481 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Photronics by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,194 shares of the semiconductor company’s stock worth $491,000 after buying an additional 1,579 shares in the last quarter. 96.01% of the stock is owned by institutional investors.
Photronics Company Profile
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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