Lee Kang Jyh, Chairman and CEO of Phototronics Inc. (NASDAQ:), offered a part of its stake within the firm. In accordance with the most recent SEC submitting, Lee offered 8,750 shares of frequent inventory on December 20, 2024, at a weighted common value of $24.33 per share. This transaction has a complete worth of roughly $212,887. The sale comes as Photronics inventory noticed a 9% decline over the previous week. InvestPro The evaluation signifies that the corporate maintains an “EXCELLENT” monetary well being rating, supported by robust money movement and minimal debt.
Because of this transaction, Lee retains possession of 545,850 shares of Photronics, representing a big stake within the $1.5 billion market cap firm. The sale was executed in a number of transactions, as indicated within the submitting. In accordance with InvestProwhich provides a complete evaluation and eight extra key insights on Photronics, the inventory presently seems barely undervalued primarily based on its proprietary honest worth mannequin.
Moreover, Photronics Inc. introduced the appointment of David Garcia to its board of administrators. Garcia brings 30 years of authorized expertise, together with positions at Holland & Hart, Wilson Sonsini Goodrich & Rosati and Enterprise Legislation Group. Its experience in mergers and acquisitions, enterprise capital financing and securities choices is anticipated to assist Photronics discover numerous enterprise growth alternatives.
The corporate additionally launched its third-quarter 2024 outcomes, revealing EPS of $0.51, barely decrease than the anticipated $0.52, and income of $211 million. Regardless of this minor setback, Photronics continues to take care of monetary stability, marked by robust money reserves and a low debt profile. The corporate additionally expanded its inventory repurchase program to $100 million.
Analysts at DA Davidson raised Photronics’ goal to $35, citing promising funding prospects for 2025. Regardless of recognizing near-term challenges in numerous finish markets and political uncertainties affecting Taiwan and China, the corporate maintains a long-term bullish outlook on Phototronics Outlook.
Photronics’ fourth-quarter income steerage is $213 million to $221 million, with a non-GAAP EPS vary of $0.51 to $0.54. The corporate goals to develop its built-in circuit capability and discover strategic growth choices in the USA, Europe and Asia. These latest developments replicate Photronics’ confidence within the long-term outlook for the photomask market, pushed by tendencies in AI and cell computing.
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