Photronics CEO Lee Kang Jyh sells $420,000 in firm inventory

BROOKFIELD, Conn.—Lee Kang Jyh, the Chief Government Officer of Photronics Inc. (NASDAQ:PLAB), has bought 17,500 shares of the corporate’s widespread inventory, based on a latest submitting with the Securities and Change Fee. The shares have been bought on December 24 at a worth of $24.00 every, amounting to a complete transaction worth of $420,000. In accordance with InvestingPro information, the corporate maintains sturdy monetary well being with an total rating of “GREAT” and holds extra cash than debt on its stability sheet.

Following the sale, Lee retains possession of 528,350 shares in Photronics. This transaction was executed straight by Lee, as indicated within the submitting. Photronics, an organization engaged within the manufacturing of photomasks for semiconductor and microelectronics industries, is headquartered in Brookfield, Connecticut. With a market capitalization of $1.5 billion and present buying and selling worth suggesting slight undervaluation primarily based on InvestingPro‘s Truthful Worth evaluation, traders can entry detailed insights and seven extra ProTips via the excellent Professional Analysis Report accessible on InvestingPro.

In different latest information, Photronics has skilled a collection of noteworthy developments. The worldwide supplier of photomask applied sciences has expanded its board with the appointment of David Garcia, a authorized professional with a 30-year profession spanning roles at Holland & Hart, Wilson Sonsini Goodrich & Rosati, and Enterprise Regulation Group. Garcia’s experience in monetary and securities transactions is predicted to assist Photronics in exploring enterprise improvement alternatives.

The corporate additionally reported third-quarter earnings for 2024, with an EPS of $0.51, barely under the anticipated $0.52, and a income of $211 million. Photronics maintains sturdy monetary stability, amplified by sturdy money reserves and a low debt profile. The corporate’s share repurchase program has been expanded to $100 million. Trying forward, Photronics offered This fall income steerage of $213-$221 million and a non-GAAP EPS vary of $0.51-$0.54.

Funding agency DA Davidson has raised Photronics’ goal to $35 as a consequence of a promising funding 12 months outlook for 2025. Regardless of acknowledging near-term challenges in varied finish markets and political uncertainties affecting Taiwan and China, DA Davidson maintains a long-term bullish perspective on Photronics’ prospects. The corporate can also be exploring strategic growth choices within the U.S., Europe, and Asia, indicating confidence within the long-term prospects of the photomask market.

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