Joseph A. Fiorita, Jr. Sells 2,500 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) Director Joseph A. Fiorita, Jr. sold 2,500 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $11.41, for a total transaction of $28,525.00. Following the completion of the sale, the director now directly owns 200,100 shares in the company, valued at $2,283,141. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Photronics stock opened at $11.78 on Wednesday. Photronics, Inc. has a 12-month low of $7.95 and a 12-month high of $11.86. The stock has a market capitalization of $760.67 million, a P/E ratio of 20.31 and a beta of 0.48. The firm’s 50-day moving average is $10.96 and its two-hundred day moving average is $9.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.64 and a quick ratio of 2.39.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. Photronics had a net margin of 6.04% and a return on equity of 3.60%. The company had revenue of $138.11 million for the quarter, compared to analysts’ expectations of $137.13 million. During the same period last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts forecast that Photronics, Inc. will post 0.45 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Photronics during the 2nd quarter worth about $66,000. Ellington Management Group LLC acquired a new stake in shares of Photronics during the 2nd quarter worth about $123,000. Bailard Inc. acquired a new stake in shares of Photronics during the 3rd quarter worth about $183,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Photronics during the 2nd quarter worth about $163,000. Finally, Jefferies Group LLC acquired a new stake in shares of Photronics in the second quarter worth approximately $184,000. 95.03% of the stock is currently owned by institutional investors.

PLAB has been the topic of a number of research reports. Zacks Investment Research raised shares of Photronics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Friday, August 23rd. Northland Securities set a $12.00 price objective on shares of Photronics and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, BidaskClub raised shares of Photronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $11.50.

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 or glass 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: Equal Weight Rating

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