Photronics (NASDAQ:PLAB) Issues Quarterly Earnings Results

Photronics (NASDAQ:PLAB) issued its earnings results on Wednesday. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.09), Briefing.com reports. Photronics had a net margin of 15.34% and a return on equity of 10.37%. The business had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $231.00 million. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $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

PLAB stock opened at $26.72 on Thursday. The company has a market cap of $1.69 billion, a P/E ratio of 11.98 and a beta of 1.41. Photronics has a 1 year low of $17.98 and a 1 year high of $34.16. The stock’s fifty day moving average price is $28.12 and its 200-day moving average price is $27.72.

Wall Street Analysts Forecast Growth

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.