Photronics, Inc. SVP Han Kyung Park Sells 11,250 Shares

On December 24th, Han Kyung Park, the Senior Vice President of Photronics, Inc. (NASDAQ:PLAB – Get Free Report), executed the sale of 11,250 shares of the company’s stock. The shares were sold at an average price of $23.80, resulting in a total transaction value of $267,750. Following this sale, Park now holds 102,500 shares, representing a decrease of approximately 9.89% in their ownership. The details of this transaction were disclosed through a filing with the Securities and Exchange Commission (SEC), accessible on their official website.

Current Stock Performance of Photronics

As of the latest trading, Photronics' stock opened at $23.92. Over the past year, the stock has experienced a low of $20.25 and a high of $34.16. The 50-day moving average is recorded at $24.62, while the 200-day moving average stands at $24.42. The company's market capitalization is estimated at $1.51 billion, with a price-to-earnings (P/E) ratio of 11.44 and a beta value of 1.41, indicating moderate volatility in the stock's performance.

Recent Earnings Results

On December 11th, Photronics released its quarterly earnings report, revealing earnings of $0.59 per share, which exceeded analysts' expectations of $0.52 by $0.07. The company reported revenues of $222.60 million for the quarter, surpassing the consensus estimate of $218.00 million. Although the revenue declined by 2.2% year-over-year, the company maintained a return on equity of 9.10% and a net margin of 15.07%. Last year during the same quarter, Photronics posted earnings of $0.60 per share. Analysts project that the company will achieve an earnings per share (EPS) of 2.3 for the current fiscal year.

Institutional Investor Activity

Several large investors have recently adjusted their positions in Photronics. Notably, Pacer Advisors Inc. raised its stake by 17.2% in the second quarter and now controls 2,482,856 shares valued at $61,252,000, after acquiring an additional 364,150 shares. Similarly, LSV Asset Management increased its holdings by 16.0%, resulting in ownership of 1,990,046 shares worth approximately $49,094,000 after purchasing 275,082 additional shares. American Century Companies Inc. also enhanced its stake by 12.8%, possessing 1,684,647 shares valued at $41,560,000 post an increase of 191,809 shares. Victory Capital Management Inc. raised its ownership by 20.8% to 505,567 shares worth about $12,472,000. Additionally, Inspire Advisors LLC made a new investment in the stock valued at $2,112,000. Altogether, institutional investors currently hold 88.38% of the company’s shares.

Analyst Ratings and Outlook

Analysts' recent evaluations show varied outcomes for Photronics. DA Davidson increased its price target for the company's stock from $32.00 to $35.00, giving it a “buy” rating on December 12th. Meanwhile, StockNews.com upgraded Photronics from a “hold” to a “buy” rating in a note issued on September 28th.

About Photronics, Inc.

Photronics, Inc., along with its subsidiaries, specializes in the production and sale of photomask products and services in various regions, including the United States, Taiwan, China, Korea, and Europe. The company manufactures photomasks integral to the production of integrated circuits and flat panel displays, as well as for transferring circuit patterns onto semiconductor wafers and flat panel display substrates.

Photronics, Stock, Sale