Photronics (NASDAQ:PLAB) Stock

Photronics

Photronics Inc is a U.S.-based company that is principally engaged in manufacturing photomasks. The photomasks are photographic quartz or glass plates that contain microscopic images of electronic circuits that are used as a component in the manufacture of integrated circuits and flat-panel displays. The revenue from products designed for integrated circuits production accounts for the majority of total revenue, with the rest derived from products for flat-panel display production. The company's assets are located in Taiwan, Korea, and the United States. It generates revenue world-wide, including in the United States, Europe, Taiwan, Korea, China, and elsewhere in Asia, with Taiwan contributing the majority of total revenue.

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Photronics stock gained on Wednesday after reporting strong fourth quarter results, with adjusted EPS beating Wall Street expectations.

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Why XP Shares Are Trading Lower By Around 12%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Photronics Inc

Revealing a significant insider sell on January 21, Kang Jyh Lee, Chief Executive Officer at Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>), as per the latest SEC filing.
What Happened: Lee's decision to sell 18,750 shares of Photronics was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000810136/000114036125001516//Archives/edgar/data/810136/000114036125001516/0001140361-25-001516-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday. The total value of the sale is $458,200.
As of Wednesday morning, Photronics shares are up by 0.29%, currently priced at $24.17.
<h3>All You Need to Know About Photronics</h3>
Photronics Inc is a U.S.-based company that is principally engaged in manufacturing photomasks. The photomasks are photographic quartz or glass plates that contain microscopic images of electronic circuits that are used as a component in the manufacture of integrated circuits and flat-panel displays. The revenue from products designed for integrated circuits production accounts for the majority of total revenue, with the rest derived from products for flat-panel display production. The company's assets are located in Taiwan, Korea, and the United States. It generates revenue world-wide, including in the United States, Europe, Taiwan, Korea, China, and elsewhere in Asia, with Taiwan contributing the majority of total revenue.
<h3>Photronics's Economic Impact: An Analysis</h3>
Decline in Revenue: Over the 3 months period, Photronics faced challenges, resulting in a decline of approximately -2.13% in revenue growth as of 31 October, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Exploring Profitability:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 36.97%, suggesting potential challenges in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Photronics's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.55.
</li>
</ul>
Debt Management: Photronics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.02.
Financial Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 11.53, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a P/S ratio of 1.73 below industry standards, the stock shows potential undervaluation, making it an appealing investment option for those focusing on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 2.75, Photronics's EV/EBITDA ratio reflects a below-par valuation compared to industry averages signalling undervaluation
</li>
</ul>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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<h3>Understanding the Significance of Insider Transactions</h3>
In the complex landscape of investment decisions, investors should approach insider transactions as part of a comprehensive analysis, considering various elements.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
Navigating through the landscape of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often prioritize those unfolding in the open market, precisely detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000810136">Check Out The Full List Of Photronics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Kang Jyh Lee Implements A Sell Strategy: Offloads $458K In Photronics Stock

<a href="https://www.globenewswire.com/Tracker?data=r1yLSj8-eYfdDk9miH1wyKIvR1AyJ-FnW23L4uaeNPkpYB1cuJw4HLQgOHUr8cMIDUKl1u5biCqQnc_jg0mT5jgnm_5u0Bi7IEjyIFJCWXobEifXrzscWFQlQs8wFUSa">Photronics, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>), a worldwide leader in photomask technologies and solutions, announced today the appointment of George Macricostas to the position of Executive Chairman, effective January 6, 2025.
Mr. Macricostas has over 30 years of technical and management experience in business operations and information technology. He has been a member of the Photronics Board of Directors since 2002, serving on the Nomination and Cybersecurity committees, and most recently as Chairman of the Compensation Committee. With his transition to the Executive Chairman role, Mr. Macricostas will be succeeded in his committee assignments by Mr. David Garcia, who became a member of the Board of Directors in December 2024. As a result of the appointment, both George Macricostas and Constantine ("Deno") Macricostas will no longer be considered independent directors, resulting in a Board of Directors of nine, six of whom are independent.

Management

Photronics Appoints George Macricostas To The Position Of Executive Chairman, Effective January 6, 2025.

Kang Jyh Lee, Chief Executive Officer at Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>), executed a substantial insider sell on January 6, according to an SEC filing.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000810136/000114036125000364//Archives/edgar/data/810136/000114036125000364/0001140361-25-000364-index.htm">U.S. Securities and Exchange Commission</a> on Monday showed that Lee sold 17,500 shares of Photronics. The total transaction amounted to $421,750. 
Tracking the Tuesday's morning session, Photronics shares are trading at $24.58, showing a up of 0.04%.
<h3>All You Need to Know About Photronics</h3>
Photronics Inc is a U.S.-based company that is principally engaged in manufacturing photomasks. The photomasks are photographic quartz or glass plates that contain microscopic images of electronic circuits that are used as a component in the manufacture of integrated circuits and flat-panel displays. The revenue from products designed for integrated circuits production accounts for the majority of total revenue, with the rest derived from products for flat-panel display production. The company's assets are located in Taiwan, Korea, and the United States. It generates revenue world-wide, including in the United States, Europe, Taiwan, Korea, China, and elsewhere in Asia, with Taiwan contributing the majority of total revenue.
<h3>Understanding the Numbers: Photronics's Finances</h3>
Negative Revenue Trend: Examining Photronics's financials over 3 months reveals challenges. As of 31 October, 2024, the company experienced a decline of approximately -2.13% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: The company shows a low gross margin of 36.97%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, Photronics exhibits below-average bottom-line performance with a current EPS of 0.55.
</li>
</ul>
Debt Management: Photronics's debt-to-equity ratio is below the industry average. With a ratio of 0.02, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Analyzing Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 11.76, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 1.77, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio lower than industry averages at 2.84, Photronics could be considered undervalued.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>The Relevance of Insider Transactions</h3>
Insightful as they may be, insider transactions should be considered alongside a thorough examination of other investment criteria.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes Worth Your Attention</h3>
Delving into transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000810136">Check Out The Full List Of Photronics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Kang Jyh Lee Executes Sell Order: Offloads $421K In Photronics Stock

Making a noteworthy insider sell on December 24, Kang Jyh Lee, Chief Executive Officer at Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>), is reported in the latest SEC filing.
What Happened: Lee's decision to sell 8,750 shares of Photronics was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000810136/000114036124050296//Archives/edgar/data/810136/000114036124050296/0001140361-24-050296-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday. The total value of the sale is $212,887.
The latest market snapshot at Tuesday morning reveals Photronics shares down by 0.0%, trading at $23.85.
<h3>Get to Know Photronics Better</h3>
Photronics Inc is a U.S.-based company that is principally engaged in manufacturing photomasks. The photomasks are photographic quartz or glass plates that contain microscopic images of electronic circuits that are used as a component in the manufacture of integrated circuits and flat-panel displays. The revenue from products designed for integrated circuits production accounts for the majority of total revenue, with the rest derived from products for flat-panel display production. The company's assets are located in Taiwan, Korea, and the United States. It generates revenue world-wide, including in the United States, Europe, Taiwan, Korea, China, and elsewhere in Asia, with Taiwan contributing the majority of total revenue.
<h3>A Deep Dive into Photronics's Financials</h3>
Decline in Revenue: Over the 3 months period, Photronics faced challenges, resulting in a decline of approximately -2.13% in revenue growth as of 31 October, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Insights into Profitability:
<ul>
<li>
Gross Margin: The company issues a cost efficiency warning with a low gross margin of 36.97%, indicating potential difficulties in maintaining profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, Photronics exhibits below-average bottom-line performance with a current EPS of 0.55.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.02.
Valuation Analysis:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 11.41, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 1.72, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 2.7, Photronics's EV/EBITDA ratio reflects a below-par valuation compared to industry averages signalling undervaluation
</li>
</ul>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
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<h3>The Impact of Insider Transactions on Investments</h3>
While insider transactions should not be the sole basis for making investment decisions, they can play a significant role in an investor's decision-making process.
Exploring the legal landscape, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated by Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and major hedge funds. These insiders are required to report their transactions through a Form 4 filing, which must be submitted within two business days of the transaction.
Highlighted by a company insider's new purchase, there's a positive anticipation for the stock to rise.
But, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Understanding Crucial Transaction Codes</h3>
When dissecting transactions, the focal point for <a href="https://www.benzinga.com/money/investing-tools">investors</a> is often those occurring in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000810136">Check Out The Full List Of Photronics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Chief Executive Officer Of Photronics Makes $212K Sale

DA Davidson analyst Thomas Diffely maintains Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) with a Buy and raises the price target from $32 to $35.

Price Target

Analyst Ratings

DA Davidson Maintains Buy on Photronics, Raises Price Target to $35

<h3>Gainers</h3>
<ul>
<li>SEALSQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) shares moved upwards by 80.4% to $1.03 during Wednesday's pre-market session. The company's market cap stands at $34.9 million. </li>
<li>AmpliTech Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) shares moved upwards by 76.39% to $1.75. The company's market cap stands at $21.9 million. </li>
<li>Frequency Electronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEIM#NASDAQ">FEIM</a>) shares rose 27.05% to $16.25. The market value of their outstanding shares is at $155.4 million. The company's, Q2 earnings came out yesterday. </li>
<li>Rigetti Computing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) shares moved upwards by 22.8% to $7.97. The company's market cap stands at $2.2 billion. </li>
<li>Verb Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERB#NASDAQ">VERB</a>) stock increased by 19.04% to $8.75. The market value of their outstanding shares is at $8.6 million. </li>
<li>Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) shares rose 18.44% to $29.99. The market value of their outstanding shares is at $1.9 billion. As per the news, the Q4 earnings report came out today. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>CSP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSPI#NASDAQ">CSPI</a>) stock decreased by 10.7% to $15.0 during Wednesday's pre-market session. The market value of their outstanding shares is at $146.4 million. </li>
<li>Taoping (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TAOP#NASDAQ">TAOP</a>) shares declined by 10.57% to $0.33. The market value of their outstanding shares is at $1.4 million. </li>
<li>TROOPS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROO#NASDAQ">TROO</a>) stock decreased by 10.35% to $2.08. The market value of their outstanding shares is at $211.3 million. </li>
<li>Signing Day Sports (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SGN#AMEX">SGN</a>) stock declined by 10.31% to $3.22. The market value of their outstanding shares is at $1.8 million. </li>
<li>Telos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLS#NASDAQ">TLS</a>) shares declined by 8.84% to $3.3. The market value of their outstanding shares is at $238.8 million. </li>
<li>Brand Engagement Network (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) shares decreased by 7.57% to $0.81. The market value of their outstanding shares is at $30.6 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Information Technology Stocks Moving In Wednesday's Pre-Market Session

U.S. stocks were higher, with the Nasdaq Composite gaining around 300 points on Wednesday.
Shares of Photronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) rose sharply during Wednesday's session after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance with its <a href="https://www.benzinga.com/news/earnings/24/12/42434183/photronics-q4-earnings-beats-expectations-ceo-credits-strong-us-sales-2025-backed-by-ai-edge-computing-and-supply-chain-trends">midpoint above estimates</a>.
The company reported adjusted EPS of 59 cents, beating the Wall Street view of 52 cents. Photronics reported quarterly revenues of $222.63 million, down 2% year-over-year. Sales beat the analyst consensus of $218.00 million. The revenue grew by 6% Q/Q.
Photronics shares jumped 13.1% to $28.64 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) shares jumped 47.8% to $6.80 after the company reported better-than-expected first-quarter EPS and sales and issued strong guidance.</li>
<li>Patterson Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDCO#NASDAQ">PDCO</a>) surged 34% to $30.98 after the company announced it entered into a definitive agreement to be acquired by Patient Square Capital.</li>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) gained 18.6% to $2.2892.</li>
<li>Destiny Tech100 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NASDAQ">DXYZ</a>) surged 17.3% to $71.95.</li>
<li>FIGS, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIGS#NYSE">FIGS</a>) rose 17.3% to $6.02 following a WSJ report suggesting the company received a takeover offer from Story3 Capital Partners.</li>
<li>ReNew Energy Global Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNW#NASDAQ">RNW</a>) jumped 12.1% to $7.11 after the company announced it received $7.07 share buyout proposal from a consortium including Masdar, CPP Investments, ADIA and founder Sumant Sinha to acquire the remaining share capital.</li>
<li>Frontier Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>) surged 11.6% to $6.70. Deutsche Bank analyst Michael Linenberg upgraded Frontier Group from Hold to Buy and raised the price target from $6 to $8.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) gained 10.2% to $29.68 following quarterly results.</li>
<li>Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) jumped 7.7% to $60.57.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) rose 7.5% to $268.58. Roth MKM analyst Chip Moore initiated coverage on Powell Industries with a Buy rating and announced a price target of $312.</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) gained 5.7% to $346.12 after the company issued FY24 and FY25 revenue guidance.</li>
</ul>
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WIIM

Photronics shares are trading higher after the company reported better-than-expected Q4 financial results and issued Q1 revenue guidance with its midpoint above estimates.

Photronics, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) stock gained Wednesday after <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42432675/photronics-reports-full-year-and-fourth-quarter-fiscal-2024-results" rel="noreferrer noopener">fourth-quarter print</a>.
The company reported adjusted EPS of 59 cents, beating the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">Wall Street view of 52 cents</a>.&nbsp;
Photronics reported quarterly revenues of $222.63 million, down 2% year-over-year. Sales beat the analyst consensus of $218.00 million. The revenue grew by 6% Q/Q.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42396941/broadcom-likely-for-upside-backed-by-ai-pipeline-market-recovery-vmware-synergy-as-key-ai-semiconductor-and-custom-chip-supplier" rel="noreferrer noopener">Broadcom Likely For Upside Backed By AI Pipeline, Market Recovery, VMWare Synergy: Analyst</a>
Integrated Circuits (IC) revenue was $163.7 million, down 1% year-over-year.&nbsp;The revenue grew by 5% Q/Q. Flat Panel Displays (FPD) revenue was $58.9 million, down 7% from&nbsp;the same quarter last year. The revenue grew by 7% Q/Q.
Photronics said operating cash flow was $68.4 million in the quarter under review, and&nbsp;cash&nbsp;invested in organic growth through capital expenditures was $43.2 million.
The company's cash and short-term investments balance at&nbsp;the end of the quarter was $640.7 million, with $18.0 million in debt.
CEO Frank Lee credited the sequential revenue growth to higher sales in both IC and FPD. IC growth was driven by strong high-end sales, particularly in the U.S., while FPD was led by mainstream demand, he noted. Photomask demand trends will continue into 2025, driven by megatrends such as AI, supply chain regionalization, and edge computing, Lee added.
Outlook: For the first quarter, Photronics expects revenue of $208 million &#8211; $216 million (<a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">estimate: $210 million</a>). The company expects adjusted EPS of $0.43 &#8211; $0.49 (estimate: $0.46).
Photronics&nbsp;stock plunged 18% year-to-date as the company failed to meet the revenue and EPS consensus estimates in the last three successive quarters. Market softness in some segments <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40621004/photronics-reports-third-quarter-fiscal-2024-results-and-share-repurchase-authorization" rel="noreferrer noopener">affected photomask demand</a>. Additionally, broader customer focus on rising semiconductor channel inventory limited chip design activity.
Price Action:&nbsp;PLAB stock is up 9.79% to $27.80 premarket at last check Wednesday.&nbsp;
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Earnings Beats

Earnings Misses

Photronics FY 2024 Adj. EPS $2.05 Misses $2.08 Estimate, Sales $866.946M Beat $862.318M Estimate

For the first quarter of fiscal 2025, Photronics expects Revenue to be between $208 million and $216 million and non-GAAP Net income attributable to Photronics, Inc. shareholders to be between $0.43 and $0.49 per diluted share.

Photronics Expects Q1 Revenue Of $208M-$216M Vs $210M Est, Adj EPS Of $0.43-$0.49 Vs $0.45 Est

Photronics Q4 Adj EPS $0.59 Beats $0.52 Estimate, Sales $222.63M Beat $218.00M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Vera Bradley (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRA#NASDAQ">VRA</a>) is likely to report quarterly earnings at $0.06 per share on revenue of $98.70 million. 
• REV Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REVG#NYSE">REVG</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $603.33 million. 
• Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is projected to report quarterly earnings at $0.03 per share on revenue of $4.72 billion. 
• Cognyte Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGNT#NASDAQ">CGNT</a>) is expected to report quarterly loss at $0.04 per share on revenue of $87.42 million. 
• Kanzhun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $266.36 million. 
• Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $218.00 million. 
• Waterdrop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDH#NYSE">WDH</a>) is estimated to report earnings for its third quarter. 
<h3>Companies Reporting After The Bell</h3>
• Nordson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) is projected to report quarterly earnings at $2.59 per share on revenue of $736.79 million. 
• Oxford Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>) is estimated to report quarterly earnings at $0.09 per share on revenue of $316.83 million. 
• Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) is estimated to report quarterly earnings at $4.66 per share on revenue of $5.54 billion. 
• Champions Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSBR#NASDAQ">CSBR</a>) is likely to report quarterly earnings at $0.01 per share on revenue of $13.05 million. 
• 17 Education &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YQ#NASDAQ">YQ</a>) is estimated to report earnings for its third quarter. 
• Kewaunee Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KEQU#NASDAQ">KEQU</a>) is estimated to report earnings for its second quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For December 11, 2024

Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) will release its quarterly earnings report on Wednesday, 2024-12-11. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Photronics to report an earnings per share (EPS) of $0.52.
Photronics bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Performance in Previous Earnings</h3>
Last quarter the company missed EPS by $0.05, which was followed by a 3.77% increase in the share price the next day.
Here's a look at Photronics's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.56</td>
<td>0.55</td>
<td>0.49</td>
<td>0.53</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.51</td>
<td>0.46</td>
<td>0.48</td>
<td>0.60</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.0%</td>
<td>-2.0%</td>
<td>-0.0%</td>
<td>11.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1733839302_0.png" alt="eps graph" />
<h3>Tracking Photronics's Stock Performance</h3>
Shares of Photronics were trading at $25.83 as of December 09. Over the last 52-week period, shares are down 1.56%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/PLAB/earnings">To track all earnings releases for Photronics visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into Photronics's Upcoming Earnings

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Shares of semiconductor stocks are trading lower amid overall market weakness. A drop in the price of NVIDIA may weigh down the sector.

General

Photronics shares are trading lower after the company reported worse-than-expected Q3 financila results and issued Q4 revenue guidance with its midpoint below estimates. Also, the company issued Q4 adjusted EPS guidance with its midpoint below estimates.

Fourth Quarter Fiscal 2024 Guidance
For the fourth quarter of fiscal 2024, Photronics expects Revenue to be between $213 million and $221 million and non-GAAP Net income attributable to Photronics, Inc. shareholders to be between $0.48 and $0.54 per diluted share.

Photronics Expects Q4 Revenue Of $213M-$221M Vs $220M Est, Adj EPS Of $0.48-$0.54 Vs $0.54 Est

Share Repurchase
In addition, the Board of Directors has authorized an increase of the Company's existing share repurchase program from the $31.7 million remaining up to a total of $100 million of its common stock. Any purchases will occur pursuant to a repurchase plan under SEC Rule 10b5-1.

Buybacks

Photronics Board Approves $100 Million Share Repurchase Plan, Up From $31.7 Million

Photronics Q3 2024 Adj. EPS $0.51 Misses $0.56 Estimate, Sales $210.984M Miss $225.000M Estimate

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<h3>Losers</h3>
<ul>
<li>Spectaire Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPEC#NASDAQ">SPEC</a>) shares decreased by 7.2% to $0.43 during Wednesday's after-market session. The company's market cap stands at $8.0 million. </li>
<li>Inuvo (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INUV#AMEX">INUV</a>) stock decreased by 7.2% to $0.24. The market value of their outstanding shares is at $33.6 million. </li>
<li>Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) shares fell 5.88% to $25.0. The company's market cap stands at $1.5 billion. </li>
<li>Soluna Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNH#NASDAQ">SLNH</a>) stock fell 5.63% to $3.19. The company's market cap stands at $12.5 million. </li>
<li>X3 Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XTKG#NASDAQ">XTKG</a>) shares declined by 4.28% to $0.63. The company's market cap stands at $173.9 million. </li>
<li>Actelis Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) stock fell 4.01% to $1.44. The market value of their outstanding shares is at $4.8 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Press Releases

Photronics to Report Third Quarter Earnings

Photronics Reports Third Quarter Fiscal 2024 Results and Share Repurchase Authorization

Photronics Hires Christopher J. Lutzo as Vice President and General Counsel

Photronics to Report Fourth Quarter Earnings

Photronics Reports Full Year and Fourth Quarter Fiscal 2024 Results

Photronics Announces Participation in 13th Annual NYC Summit

Photronics Appoints New Board Member

Photronics Announces Participation in the  27th Annual Needham Growth Conference in NYC

Photronics Appoints Executive Chairman

Photronics to Report First Quarter Earnings

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