BROOKFIELD, CT—Walter M. Fiederowicz, a director of Phototronics Inc. (NASDAQ:), reported the sale of 10,000 shares of the company’s common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on December 24, 2024, was executed at a price of $24.01 per share, for a total of $240,100. The sale comes as Photronics maintains a strong financial position, with InvestingPro The data shows that the company has more cash than debt and boasts a healthy current ratio of 5.07x.

After this transaction, Fiederowicz held 50,000 shares of Photronics. Additionally, on December 26, 2024, Fiederowicz sold 8,000 shares through a transaction classified separately, at a price of $24.27 per share, valued at $194,160. This leaves him with a remaining balance of 42,000 shares directly owned. According to InvestingPro analysis, the stock is currently trading at a P/E ratio of 11.28x, with analysts setting a unanimous target price of $35, suggesting potential upside from current levels.

Photronics Inc., based in Brookfield, Connecticut, operates in the semiconductors and related devices sector. The company showed strong profitability with a gross margin of 36.4% and maintained an excellent overall financial health score according to InvestingPro metrics.

In other recent news, Photronics Inc. made significant improvements to its board and financial outlook. The company appointed David Garcia to their Board of Directors, expanding the size of the board to nine members. Garcia brings extensive legal expertise from his 30-year career, including experience in technology-related transactions, mergers, and acquisitions.

Reported by Photronics Inc. its third quarter earnings for 2024, which revealed an earnings per share (EPS) of $0.51, slightly below expectations of $0.52, and a profit of $211 million. The company’s financial strength is highlighted by strong cash reserves, a low debt profile, and an expansion of its $100 million share repurchase program. DA Davidson raised its target for Photronics to $35, maintaining a long-term strong view of the company’s prospects.

These are recent developments, and despite the near-term challenges in various end markets, analysts from DA Davidson suggest that the strategic steps of Photronics will contribute to its long-term success. The company is also exploring strategic expansion options in the US, Europe, and Asia, showing confidence in the long-term prospects of the photomask market, driven by trends in AI and mobile computing.

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