Photronics, Inc. (PLAB) VP Sells $19,060.00 in Stock

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Photronics, Inc. (NASDAQ:PLAB) VP Richelle E. Burr sold 2,000 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $9.53, for a total transaction of $19,060.00. Following the completion of the sale, the vice president now directly owns 50,067 shares in the company, valued at $477,138.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ:PLAB traded up $0.03 during trading on Wednesday, reaching $9.74. The stock had a trading volume of 349,900 shares, compared to its average volume of 478,342. Photronics, Inc. has a 52 week low of $7.20 and a 52 week high of $11.00. The firm has a market cap of $661.58 million, a P/E ratio of 51.26, a P/E/G ratio of 1.62 and a beta of 0.77.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $136.39 million for the quarter, compared to analyst estimates of $132.67 million. Photronics had a net margin of 6.83% and a return on equity of 3.65%. Photronics’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. As a group, equities analysts expect that Photronics, Inc. will post 0.58 EPS for the current year.

Photronics declared that its Board of Directors has initiated a stock buyback program on Friday, July 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

A number of research firms have recently commented on PLAB. ValuEngine raised shares of Photronics from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Photronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 24th. BidaskClub raised shares of Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, TheStreet raised shares of Photronics from a “c+” rating to a “b-” rating in a research note on Tuesday, September 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Photronics has a consensus rating of “Hold” and a consensus price target of $11.67.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC bought a new position in Photronics during the second quarter worth $101,000. Paloma Partners Management Co bought a new position in Photronics during the second quarter worth $102,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Photronics during the second quarter worth $118,000. SG Americas Securities LLC boosted its stake in Photronics by 46.2% during the second quarter. SG Americas Securities LLC now owns 24,430 shares of the semiconductor company’s stock worth $195,000 after acquiring an additional 7,720 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Photronics during the second quarter worth $197,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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