George Macricostas Sells 22,000 Shares of Photronics, Inc. (PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) Director George Macricostas sold 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $10.06, for a total transaction of $221,320.00. Following the sale, the director now directly owns 44,249 shares in the company, valued at $445,144.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

George Macricostas also recently made the following trade(s):

  • On Wednesday, January 2nd, George Macricostas sold 15,000 shares of Photronics stock. The stock was sold at an average price of $9.81, for a total transaction of $147,150.00.
  • On Friday, December 27th, George Macricostas sold 3,000 shares of Photronics stock. The stock was sold at an average price of $9.60, for a total transaction of $28,800.00.

NASDAQ:PLAB opened at $10.48 on Friday. Photronics, Inc. has a 52 week low of $7.20 and a 52 week high of $11.00. The firm has a market capitalization of $696.67 million, a PE ratio of 18.07, a PEG ratio of 2.19 and a beta of 0.56.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, December 12th. The semiconductor company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Photronics had a net margin of 7.86% and a return on equity of 4.38%. The company had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.20 million. During the same period in the prior year, the firm posted $0.08 EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts anticipate that Photronics, Inc. will post 0.47 earnings per share for the current year.

Photronics announced that its board has approved a share buyback plan on Friday, October 12th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several large investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its position in shares of Photronics by 7.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 72,017 shares of the semiconductor company’s stock valued at $709,000 after acquiring an additional 5,276 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Photronics by 19.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 36,100 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 5,776 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in shares of Photronics by 38.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,501 shares of the semiconductor company’s stock valued at $211,000 after acquiring an additional 7,307 shares during the period. SG Americas Securities LLC lifted its position in shares of Photronics by 46.2% during the 2nd quarter. SG Americas Securities LLC now owns 24,430 shares of the semiconductor company’s stock valued at $195,000 after acquiring an additional 7,720 shares during the period. Finally, United Services Automobile Association lifted its position in shares of Photronics by 1.9% during the 2nd quarter. United Services Automobile Association now owns 452,870 shares of the semiconductor company’s stock valued at $3,612,000 after acquiring an additional 8,263 shares during the period. 97.57% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on PLAB shares. BidaskClub lowered shares of Photronics from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. ValuEngine raised shares of Photronics from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, Zacks Investment Research lowered shares of Photronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $11.00.

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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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Insider Buying and Selling by Quarter for Photronics (NASDAQ:PLAB)

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