Photronics, Inc. (PLAB) Director Sells $18,973.50 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Mitchell G. Tyson sold 1,950 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $9.73, for a total transaction of $18,973.50. Following the completion of the transaction, the director now directly owns 73,079 shares in the company, valued at approximately $711,058.67. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NASDAQ:PLAB opened at $9.70 on Friday. The company has a market capitalization of $678.36 million, a P/E ratio of 19.80, a PEG ratio of 2.00 and a beta of 0.68. Photronics, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $11.00.

Photronics announced that its Board of Directors has approved a stock repurchase program on Friday, October 12th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Several brokerages have recently issued reports on PLAB. BidaskClub raised shares of Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine lowered shares of Photronics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. TheStreet raised shares of Photronics from a “c+” rating to a “b-” rating in a research note on Tuesday, September 11th. 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. Four investment analysts have rated the stock with a hold rating, Photronics currently has a consensus rating of “Hold” and a consensus target price of $11.00.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Photronics by 3.1% during the 3rd quarter. BlackRock Inc. now owns 9,955,523 shares of the semiconductor company’s stock worth $98,062,000 after buying an additional 299,068 shares during the period. Dimensional Fund Advisors LP raised its holdings in Photronics by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,876,889 shares of the semiconductor company’s stock worth $57,887,000 after buying an additional 25,519 shares during the period. Vanguard Group Inc. raised its holdings in Photronics by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,365,171 shares of the semiconductor company’s stock worth $42,996,000 after buying an additional 41,815 shares during the period. Donald Smith & CO. Inc. raised its holdings in Photronics by 1.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 4,273,216 shares of the semiconductor company’s stock worth $42,091,000 after buying an additional 64,625 shares during the period. Finally, Northern Trust Corp raised its holdings in Photronics by 1.8% during the 2nd quarter. Northern Trust Corp now owns 1,907,850 shares of the semiconductor company’s stock worth $15,215,000 after buying an additional 34,048 shares during the period. Hedge funds and other institutional investors own 92.81% of the company’s stock.

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About Photronics

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

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