Lee Kang Jyh, the Chief Govt Officer of Photronics Inc. (NASDAQ:), has bought a portion of his holdings within the firm. Based on the newest SEC submitting, Lee bought 8,750 shares of widespread inventory on December 20, 2024, at a weighted common value of $24.33 per share. This transaction amounted to a complete worth of roughly $212,887. The sale comes as Photronics inventory has skilled a 9% decline over the previous week, although InvestingPro evaluation signifies the corporate maintains a “GREAT” monetary well being rating, supported by robust money flows and minimal debt.
Following this transaction, Lee retains possession of 545,850 shares in Photronics, representing a major stake within the $1.5 billion market cap firm. The sale was executed in a number of trades, as famous within the submitting. Based on InvestingPro, which presents complete evaluation and eight further key insights about Photronics, the inventory at present seems barely undervalued based mostly on their proprietary Honest Worth mannequin.
In different latest information, Photronics Inc. has introduced the appointment of David Garcia to its Board of Administrators. Garcia brings 30 years of authorized expertise, together with roles at Holland & Hart, Wilson Sonsini Goodrich & Rosati, and Enterprise Regulation Group. His experience in mergers and acquisitions, enterprise capital financing, and securities choices is anticipated to help Photronics in exploring varied enterprise growth alternatives.
The corporate has additionally reported third-quarter earnings for 2024, revealing an EPS of $0.51, barely beneath the anticipated $0.52, and a income of $211 million. Regardless of this minor miss, Photronics continues to take care of monetary stability, marked by strong money reserves and a low debt profile. The corporate has additionally expanded its share repurchase program to $100 million.
Analysts from DA Davidson have raised the goal for Photronics to $35, citing 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, the agency maintains a long-term bullish perspective on Photronics’ prospects.
Photronics’ This autumn income steering stands at $213-$221 million with a non-GAAP EPS vary of $0.51-$0.54. The corporate is eager on increasing its IC capability and exploring strategic enlargement choices within the U.S., Europe, and Asia. These latest developments replicate Photronics’ confidence within the long-term prospects of the photomask market, pushed by developments in AI and cell computing.
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