Phototronics’ Board of Directors Authorizes Share Repurchase Program

Phototronics, Inc. (PLAB) announced on August 28 that its Board of Directors authorized a stock repurchase program. The company had paused its share repurchase activity earlier in the year to focus on its investment activities. Under this program, Phototronics may repurchase up to $100 million in common stock.

 

Sonal sent an alert to subscribers at 8:22 am. Regular market trading opened for the day at $9.41. Phototronics traded above $9.75 later in the day, and the stock continued to rise over the next four trading sessions. It closed at $10.82 on September 4 for a five-day gain of nearly 15%.

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