BROOKFIELD, CT—Walter M. Fiederowicz, director at Phototronics Inch. (NASDAQ: ), reported selling 10,000 shares of the company’s stock, according to its most recent filing with the Securities and Exchange Commission. The transaction, which occurred on December 24, 2024, was executed at a price of $24.01 per share, for a total of approximately $240,100. The sale occurs because Photronics maintains a strong financial position, with InvestingPro data showing the company has more cash than debt and a healthy current ratio of 5.07x.
After this transaction, Fiederowicz holds 50,000 shares of Photronics. Additionally, on December 26, 2024, Fiederowicz sold 8,000 shares through a differently classified transaction, at a price of $24.27 per share, amounting to $194,160. That leaves him with a remaining balance of 42,000 shares directly owned. According to InvestingPro analysis, the stock currently trades at a P/E ratio of 11.28x, with analysts unanimously setting a price target of $35, suggesting potential upside from current levels.
Photronics Inc., headquartered in Brookfield, Connecticut, operates in the semiconductor and related device sector. The company has demonstrated strong profitability with a gross margin of 36.4% and maintains an excellent overall financial health score according to InvestingPro metrics.
In other recent news, Photronics Inc. has made significant progress in its board and financial outlook. The company has appointed David Garcia to its Board of Directors, expanding the size of the board to nine members. Garcia brings a wealth of legal expertise from his 30-year career, including experience in technology-related transactions, mergers and acquisitions.
Photronics Inc. reported its Q3 2024 earnings, revealing earnings per share (EPS) of $0.51, slightly below expectations of $0.52, and revenue of $211 million. The financial stability of the company is emphasized by strong cash reserves, a low debt profile and the expansion of the share buyback program to 100 million dollars. DA Davidson raised its price target on Photronics to $35, maintaining a long-term bullish outlook on the company’s prospects.
These are recent developments and despite short-term challenges in various end markets, analysts at DA Davidson suggest that Photronics’ strategic moves will contribute to its long-term success. The company is also exploring strategic expansion opportunities in the US, Europe and Asia, showing confidence in the long-term prospects of the photomask market, driven by trends in artificial intelligence and mobile computing.
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