BROOKFIELD, CT – Park Han Kyung, Senior Vice President and General Manager of FPD Operations at Photronics Inc. (NASDAQ:PLAB), recently sold 11,250 shares of the company's common stock. The semiconductor manufacturer, currently valued at $1.51 billion, maintains a robust financial health score of "GREAT" according to InvestingPro analysis. The transaction, which took place on December 24, was executed at a price of $23.80 per share, amounting to a total value of $267,750.
Following this transaction, Park Han Kyung retains ownership of 102,500 shares in Photronics. The sale was disclosed in a filing with the Securities and Exchange Commission, which was made available to the public on December 27. Photronics, a leader in the semiconductor industry, continues to be a key player in the manufacturing of photomasks.
In other recent news, Photronics, Inc. has made notable strides in its operations. The company has expanded its board with the addition of David Garcia, a legal expert with a wealth of experience in mergers and acquisitions, venture capital financing, and securities offerings. This move is expected to aid Photronics in exploring various business development opportunities.
In the financial sphere, Photronics reported third-quarter earnings for 2024 with an EPS of $0.51, slightly below the projected $0.52, and a revenue of $211 million. The company's financial stability was emphasized by robust cash reserves and a low debt profile. Photronics also expanded its share repurchase program to $100 million. For the fourth quarter, the company provided revenue guidance of $213-$221 million and a non-GAAP EPS range of $0.51-$0.54.
These recent developments have caught the attention of analysts. The firm DA Davidson has raised its target for Photronics to $35 due to a promising investment year outlook for 2025. Despite acknowledging near-term challenges, analysts maintain a long-term bullish perspective on the company's prospects. Photronics is also eyeing strategic expansion options in the U.S., Europe, and Asia, indicating confidence in the long-term prospects of the photomask market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.