BROOKFIELD, CT—Park Han Kyung, Senior Vice President and General Manager of FPD Operations at Photronics Inc. (NASDAQ:PLAB), recently executed a significant stock transaction, according to a recent SEC filing. On January 6, Park sold 11,250 shares of Photronics' common stock at an average price of $24.29 per share, totaling $273,262. The transaction comes as Photronics, with a market capitalization of $1.55 billion, maintains a strong financial health rating according to InvestingPro analysis.
This sale follows a previous acquisition of 38,000 shares on January 3, which were granted as part of a Restricted Stock Award. These shares were acquired at no cost as part of an award that vests 25% annually over four years.
Following these transactions, Park holds 129,250 shares of Photronics common stock.
In other recent news, Photronics Inc. has been making significant strides in its business operations. The company recently expanded its board of directors by appointing David Garcia, a legal expert with around three decades of experience, to enhance their strategic guidance. Photronics also reported its third-quarter earnings for 2024, revealing an EPS of $0.51, slightly below the anticipated $0.52, and a revenue of $211 million. The firm's financial stability was underscored by robust cash reserves, low debt profile, and a share repurchase program expansion to $100 million.
In terms of future expectations, Photronics provided Q4 revenue guidance of $213-$221 million and a non-GAAP EPS range of $0.51-$0.54. The company is keen on expanding its IC capacity and exploring strategic expansion options in the U.S., Europe, and Asia. DA Davidson, an analyst firm, has raised Photronics' target to $35 due to a promising investment year outlook for 2025 and maintains a long-term bullish perspective on the company's prospects. These are among the recent developments that continue to shape the direction of Photronics Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.