Walter M. Fiederowicz Sells 10,000 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

On December 24th, Walter M. Fiederowicz, a director at Photronics, Inc. (NASDAQ:PLAB), sold 10,000 shares of the company’s stock. The shares were sold at an average price of $24.01, bringing the total value of the transaction to $240,100. Following this sale, Fiederowicz now owns 50,000 shares in Photronics, which is valued at approximately $1,200,500. This transaction indicates a 16.67% decrease in his holdings. The details of the sale were disclosed in a filing with the Securities and Exchange Commission (SEC), which can be accessed on the SEC website.

Photronics Stock Performance

As of Friday, shares of PLAB opened at $23.92. Over the past year, Photronics has seen a low of $20.25 and a high of $34.16. The company’s fifty-day simple moving average stands at $24.62, while its two-hundred-day simple moving average is $24.42. Photronics has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.44, and a beta of 1.41, indicating a moderate level of volatility.

Recent Earnings Report

On December 11th, Photronics released its latest earnings report. The company reported earnings per share (EPS) of $0.59 for the quarter, surpassing the consensus estimate of $0.52 by $0.07. The net margin for the company was recorded at 15.07%, with a return on equity of 9.10%. Photronics also reported quarterly revenue of $222.60 million, which exceeded analyst expectations of $218.00 million. However, this revenue figure represents a 2.2% decrease compared to the same quarter last year. Analysts predict that Photronics will achieve an EPS of 2.3 for the current fiscal year.

Analyst Ratings and Predictions

Recently, several stock research analysts have offered insights regarding Photronics. StockNews.com upgraded its rating from “hold” to “buy” on September 28th. Additionally, DA Davidson raised its target price for Photronics shares from $32.00 to $35.00, affirming a “buy” rating in a report released on December 12th.

Institutional Investor Activity

Institutional investors have also been active in the Photronics stock market. Arizona State Retirement System increased its stake in the semiconductor company by 3.1% in the second quarter, now owning 17,735 shares worth $438,000 after acquiring an additional 530 shares. Nisa Investment Advisors LLC significantly boosted its position by 65.4% during the third quarter, owning 1,434 shares valued at $36,000 after purchasing 567 more shares. US Bancorp DE expanded its holdings by 137.2% in the same quarter, owning 1,212 shares worth $30,000 after acquiring 701 shares. Other institutional investments include Koss Olinger Consulting LLC and Louisiana State Employees Retirement System, which have also increased their stakes. Overall, institutional investors own approximately 88.38% of Photronics shares.

Company Overview

Photronics, Inc. operates in the manufacturing and sale of photomask products and services across various regions, including the United States, Taiwan, China, South Korea, and Europe. The company specializes in photomasks used in the production of integrated circuits and flat panel displays, which transfer circuit patterns onto semiconductor wafers and display substrates.

Conclusion

The recent transaction by Walter M. Fiederowicz highlights ongoing changes in the ownership structure of Photronics while the company continues to exhibit solid earnings growth despite slight revenue declines. Analysts remain optimistic, predicting further growth for the stock in the upcoming year.

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