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

On December 24, 2024, Walter M. Fiederowicz, a director at Photronics, Inc. (NASDAQ:PLAB – Get Free Report), completed a significant transaction by selling 10,000 shares of the company's stock. The shares were sold at an average price of $24.01 each, amounting to a total of $240,100. Following this sale, Fiederowicz retains ownership of 50,000 shares in Photronics, with a total current value of approximately $1,200,500. This recent sale marks a 16.67% reduction in his holdings in the company. Details of the transaction have been filed with the SEC and can be found in the public records available through their website.

Current Trading Performance of Photronics

As of Friday, shares of PLAB opened at $23.92. Over the past year, Photronics has experienced fluctuations in stock price, with a low of $20.25 and a high of $34.16. The company's fifty-day simple moving average is recorded at $24.62, while the two-hundred-day simple moving average stands at $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 moderate volatility compared to the market.

Recent Earnings Results

Photronics recently released its earnings results on December 11. The semiconductor firm reported earnings per share (EPS) of $0.59 for the quarter, surpassing analysts' expectations of $0.52 by $0.07. The company achieved a net margin of 15.07% and a return on equity of 9.10%. Its quarterly revenue totaled $222.60 million, which exceeded the anticipated $218.00 million. However, this reflects a decline of 2.2% in revenue compared to the same quarter last year. Analysts predict that Photronics will report an EPS of approximately 2.3 for the current fiscal year.

Analyst Upgrades and Predictions

In recent updates, various equities research analysts have adjusted their outlook for Photronics. Notably, StockNews.com upgraded the company's rating from 'hold' to 'buy' in a report issued on September 28. Furthermore, DA Davidson has raised its target price for Photronics shares from $32.00 to $35.00 while maintaining a 'buy' rating.

Institutional Investment Trends

Several institutional investors have recently adjusted their positions in Photronics. For instance, the Arizona State Retirement System increased its stake by 3.1% during the second quarter. Following additional purchases, it now holds 17,735 shares valued at $438,000. Meanwhile, Nisa Investment Advisors LLC substantially increased its stake by 65.4% in the third quarter, now owning 1,434 shares valued at $36,000. Additionally, US Bancorp DE grew its position by 137.2%, holding 1,212 shares worth approximately $30,000. Koss Olinger Consulting LLC enhanced its investment by 4.3%, acquiring 18,714 shares valued at $463,000. Overall, institutional ownership of Photronics is approximately 88.38%.

About Photronics

Photronics, Inc. is engaged in the manufacture and sale of photomask products and services. With its subsidiaries, Photronics operates in various global markets, including the United States, Taiwan, China, Korea, and Europe. The company produces photomasks needed for manufacturing integrated circuits and flat panel displays, which are essential for transferring circuit patterns onto semiconductor wafers and display substrates.

shares, sale, stock, earnings, investment