Photronics (NASDAQ:PLAB) Announces Quarterly Earnings Results

Photronics (NASDAQ:PLAB) announced its quarterly earnings data on Wednesday. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.09), Briefing.com reports. The firm had revenue of $217.00 million for the quarter, compared to the consensus estimate of $231.00 million. Photronics had a return on equity of 10.37% and a net margin of 15.34%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share. Photronics updated its Q3 2024 guidance to 0.530-0.590 EPS and its Q3 guidance to $0.53-0.59 EPS.

Photronics Price Performance

Shares of PLAB opened at $25.91 on Thursday. The business’s 50-day moving average is $28.12 and its 200-day moving average is $27.72. Photronics has a fifty-two week low of $17.98 and a fifty-two week high of $34.16. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 11.62 and a beta of 1.41.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Photronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd.

About Photronics

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.