BROOKFIELD, CT—Walter M. Fiederowicz, director of Phototronics Inc. (NASDAQ:), introduced the sale of 10,000 shares of the corporate’s frequent inventory, in line with a current submitting with the Securities and Trade Fee. The transaction, which occurred on December 24, 2024, was executed at a value of $24.01 per share, totaling roughly $240,100. The sale comes as Photronics maintains a robust monetary place, with InvestPro information exhibiting that the corporate holds additional cash than debt and has a wholesome present ratio of 5.07x.
On account of this transaction, Fiederowicz owns 50,000 shares of Photronics. Moreover, on December 26, 2024, Fiederowicz disposed of 8,000 shares in a in another way categorised transaction, at a value of $24.27 per share, for $194,160. This leaves him with a remaining steadiness of 42,000 shares held instantly. In keeping with InvestPro In keeping with the evaluation, the inventory is presently buying and selling at a P/E ratio of 11.28x, with analysts setting a unanimous goal value of $35, suggesting upside potential from present ranges.
Photronics Inc., based mostly in Brookfield, Connecticut, operates within the semiconductor and associated units trade. The corporate has demonstrated robust profitability with a gross margin of 36.4% and maintains a superb general monetary well being rating in line with InvestPro metric.
Moreover, Photronics Inc. has made vital developments concerning its board of administrators and its monetary outlook. The corporate named David Garcia to its board of administrators, bringing the dimensions of the board to 9 members. Garcia brings a wealth of authorized experience from his 30-year profession, together with expertise in technology-related transactions, mergers and acquisitions.
Photronics Inc. reported its third quarter 2024 outcomes, revealing earnings per share (EPS) of $0.51, barely decrease than the anticipated $0.52, and income of $211 million. The corporate’s monetary stability was highlighted by robust money reserves, a low debt profile and an in depth $100 million share repurchase program. DA Davidson raised his goal for Photronics to $35, sustaining a long-term bullish outlook on the corporate’s prospects.
These are current developments and, regardless of near-term challenges in numerous finish markets, DA Davidson analysts recommend that Photronics’ strategic selections will contribute to its long-term success. The corporate can be exploring strategic enlargement choices in the USA, Europe and Asia, demonstrating confidence within the long-term prospects of the photomask market, pushed by tendencies in AI and cellular computing.
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