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BROOKFIELD, Conn., May 22, 2024 (GLOBE NEWSWIRE) -- Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in photomask technologies and solutions, today reported financial results for its second quarter of fiscal year 2024 ended April 28, 2024.
Photronics' (PLAB) second-quarter fiscal 2024 performance is likely to reflect strength in Integrated Circuit (IC) and Flat Panel Display (FPD) segments.
BROOKFIELD, Conn., May 08, 2024 (GLOBE NEWSWIRE) -- Photronics, Inc. (Nasdaq:PLAB), a worldwide leader in photomask technologies and solutions, is scheduled to announce financial results for the second quarter of fiscal 2024 on Wednesday, May 22, 2024, before the market opens.
Photronics specializes in producing photomasks for the semiconductor and flat panel display manufacturing processes. The company saw slight sales growth year-over-year, but a dip in mainstream demand affected overall revenue. PLAB has solid operating performance, a positive cash flow, and reasonable valuation, making it a compelling buy.
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Photronics (PLAB) closed the most recent trading day at $28.49, moving +1.97% from the previous trading session.
Photronics, a leader in the photomask industry, has benefited from surging demand notably in Asia, where it made 80% of 2023 revenues. After spiking almost 50% in December on strong Q4 results, the stock recently pulled back following the Company's Q1 revenue and operating margin miss. Short- and longer-term growth and profitability trends seem intact, as Photronics is well-positioned to capitalize on secular tailwinds.
Photronics (PLAB) closed the most recent trading day at $28.32, moving -1.56% from the previous trading session.
The semiconductor industry is revving up after a challenging 2023. Chip stocks suffered their seventh downturn since 1990 with sales down 9.4% to $520 billion.