PLAB

As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the semiconductor manufacturing industry, including Photronics (NASDAQ:PLAB) and its peers. The semiconductor industry is driven by demand for advanced electronic products like smartphones, PCs, servers, and data storage. The need for technologies like artificial intelligence, 5G networks, and smart cars is also creating the next wave of growth for the industry. Keeping up with this dynamism requires new tools that can design, fabricate, and test chips at ever smaller sizes and more complex architectures, creating a dire need for semiconductor capital manufacturing equipment. The 14 semiconductor manufacturing stocks we track reported a very strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.2% while next quarter’s revenue guidance was 5.5% above. Luckily, semiconductor manufacturing stocks have performed well with share prices up 15.2% on average since the latest earnings results. Sporting a global footprint of facilities, Photronics (NASDAQ:PLAB) is a manufacturer of photomasks, templates used to transfer patterns onto semiconductor wafers. Photronics reported revenues of $209.9 million, flat year on year. This print fell short of analysts’ expectations by 2.8%. Overall, it was a disappointing quarter for the company with revenue guidance for next quarter missing analysts’ expectations and a significant miss of analysts’ operating income estimates. Commenting on the second quarter performance, Chairman and CEO George Macricostas said, “Photomask market dynamics reflect a mix of supportive long-term drivers and several temporary headwinds. In the near term, certain design releases have been delayed due to elevated fab utilization rates, which are extending new product launch timelines, memory supply constraints and related cost pressures for OEMs, and geopolitical uncertainty. The underlying long-term demand environment remains strong as we advance our investments in the U.S. and Korea to strengthen our position at the high end of the market over the coming years.” Photronics delivered the weakest performance against analyst estimates, weakest guidance update, and slowest revenue growth of the whole group. The market seems disappointed with the results as the stock is down 41.4% since reporting and currently trades at $31.38. Read our full report...

In late May 2026, Photronics, Inc. reported second-quarter results showing a year-over-year decline in revenue and operating margins, followed by multiple law firms launching investigations into potential securities law violations related to the company’s disclosures. At the same time, Photronics is maintaining high visibility at major technology investor conferences in June 2026, underscoring how management is actively engaging with the market while legal and operational questions are under review. We’ll now examine how these earnings-related investigations and operational headwinds may influence Photronics’ previously outlined investment narrative and risk profile. We've uncovered the 8 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. To own Photronics, you need to believe that outsourced photomask production remains essential to the semiconductor and display supply chain, and that the company’s global footprint and technology investments can support that role. The immediate catalyst is whether management can stabilize near term revenue and margins after Q2 softness, while the most pressing risk is that the new securities law investigations could extend uncertainty around the stock without yet altering the core business trajectory. The most relevant development here is Photronics’ packed June conference schedule, including appearances at the Bank of America 2026 Global Technology Conference and D.A. Davidson’s Technology & Consumer Conference. These events give management a visible platform to address investor concerns about earnings volatility and legal scrutiny, and to reinforce how recent capacity and technology upgrades might underpin future demand for its photomasks. Yet behind the conference spotlight, investors should also be aware that customer concentration and weakening mainstream IC revenue in Asia could... Read the full narrative on Photronics (it's free!) Photronics’ narrative projects $930.0 million revenue and $81.2 million earnings by 2029. This requires 2.6% yearly revenue growth and a $77.9 million earnings decrease from $159.1 million today. Uncover how Photronics' forecasts yield a $43.00 fair value, a 35% upside to its current price. Five members of the Simply Wall St Community currently estimate Photronics’ fair value between US$21.73 and US$43, highlighting a wide span of individual views. S...

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Photronics (PLAB) has been back in focus after its stock fell 6% in a broader global chip selloff, as investors reacted to weak guidance from a major peer and shifting interest rate expectations. See our latest analysis for Photronics. Beyond the latest selloff, Photronics’ 30 day share price return is down 44.15%. Its 1 year total shareholder return of 63.45% and 5 year total shareholder return of 122.42% indicate longer term momentum that recent sector pressure has cooled. If this volatility has you thinking about where chip related demand flows next, it could be worth scanning the AI infrastructure space via the 48 AI infrastructure stocks. With Photronics now trading well below its recent peak, yet still carrying strong multi year returns and trading at a discount to some analyst targets, the key question is whether current weakness offers value or if the stock already reflects future growth. On the most followed valuation narrative, Photronics’ fair value of $43 sits well above the last close at $29.96, putting the recent pullback in a different light. Read the complete narrative. Curious what kind of revenue path, margin reset, and future earnings multiple have to line up to reach that fair value number? The narrative leans on slower top line growth, slimmer profitability, and a much richer earnings multiple that contrasts sharply with where the stock trades today. Result: Fair Value of $43 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, recent securities investigations and heavier capital spending, which put pressure on free cash flow, could quickly undercut the optimistic fair value story investors are watching. Find out about the key risks to this Photronics narrative. That 30.3% upside story sits awkwardly next to our DCF model, which values Photronics at $21.78 per share, below the current $29.96. In this view, the stock screens as overvalued, not undervalued, raising a simple question for you: which set of assumptions feels more realistic? Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Photronics for example). We show the entire calculation in full. You can track the...

Photronics, Inc. (NASDAQ:PLAB) was among the stocks Jim Cramer highlighted on Mad Money as he noted that the market has an appetite for stocks. Starting the lightning round, when a caller inquired about the stock, Cramer said: Photo by Adam Nowakowski on Unsplash Photronics, Inc. (NASDAQ:PLAB) manufactures and sells photomasks, as well as electrical and optical components used to transfer circuit patterns onto semiconductor wafers and flat-panel displays. While we acknowledge the potential of PLAB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years Disclosure: None. Follow Insider Monkey on Google News.

Photronics’ second quarter was marked by a significant negative market reaction, as both revenue and adjusted earnings per share fell short of Wall Street expectations. Management attributed the softness to delays in semiconductor design releases, which are closely linked to elevated fab utilization rates, memory supply constraints, and increased geopolitical uncertainty. CEO George Macricostas described the quarter’s environment as one where “the seasonal recovery following Chinese New Year has not occurred to the extent anticipated,” leading to a 5% year-over-year drop in integrated circuit revenue and a sharp decline in operating margin. The display (FPD) segment provided a partial offset, but overall visibility remained limited. Is now the time to buy PLAB? Find out in our full research report (it’s free). Revenue: $209.9 million vs analyst estimates of $216 million (flat year on year, 2.8% miss) Adjusted EPS: $0.42 vs analyst expectations of $0.53 (20% miss) Revenue Guidance for Q2 CY2026 is $211 million at the midpoint, below analyst estimates of $218.5 million Adjusted EPS guidance for Q2 CY2026 is $0.42 at the midpoint, below analyst estimates of $0.52 Operating Margin: 20.1%, down from 26.4% in the same quarter last year Inventory Days Outstanding: 43, up from 39 in the previous quarter Market Capitalization: $1.89 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Maxwell Michaelis (Lake Street Capital Markets) asked when visibility on demand became cloudy. CFO Eric Rivera pointed to the start of the U.S.-Iran conflict and subsequent impacts on fab utilization as key turning points. Maxwell Michaelis (Lake Street Capital Markets) followed up on customer timing for new design releases. Senior Executive KangJyh Lee said customers remain optimistic for the mid-term, but near-term visibility is poor and delays were widespread after Chinese New Year. Gowshihan Sriharan (Singular Research) asked whether margin compression could be mitigated by cost reductions. Rivera replied that the largely fixed cost structure limits the company’s ability to adjust expenses quickly. Gowshihan Sriharan (Singular Research) i...

Semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) fell short of the market’s revenue expectations in Q1 CY2026, with sales flat year on year at $209.9 million. Next quarter’s revenue guidance of $211 million underwhelmed, coming in 3.4% below analysts’ estimates. Its non-GAAP profit of $0.42 per share was 20% below analysts’ consensus estimates. Is now the time to buy PLAB? Find out in our full research report (it’s free). Revenue: $209.9 million vs analyst estimates of $216 million (flat year on year, 2.8% miss) Adjusted EPS: $0.42 vs analyst expectations of $0.53 (20% miss) Revenue Guidance for Q2 CY2026 is $211 million at the midpoint, below analyst estimates of $218.5 million Adjusted EPS guidance for Q2 CY2026 is $0.42 at the midpoint, below analyst estimates of $0.52 Operating Margin: 20.1%, down from 26.4% in the same quarter last year Inventory Days Outstanding: 43, up from 39 in the previous quarter Market Capitalization: $2.01 billion Photronics’ second quarter was marked by a significant negative market reaction, as both revenue and adjusted earnings per share fell short of Wall Street expectations. Management attributed the softness to delays in semiconductor design releases, which are closely linked to elevated fab utilization rates, memory supply constraints, and increased geopolitical uncertainty. CEO George Macricostas described the quarter’s environment as one where “the seasonal recovery following Chinese New Year has not occurred to the extent anticipated,” leading to a 5% year-over-year drop in integrated circuit revenue and a sharp decline in operating margin. The display (FPD) segment provided a partial offset, but overall visibility remained limited. Looking ahead, management’s guidance reflected a cautious outlook, with ongoing uncertainty in the timing of new chip design releases and continued margin pressure. CFO Eric Rivera emphasized that fab utilization and macroeconomic factors are likely to keep demand variable, stating, “Visibility remains limited with a typical backlog of only 1 to 3 weeks.” While capital investments in the U.S. and Korea are expected to support future growth, Photronics remains reliant on a recovery in design activity and the successful ramp of its technology upgrades to drive improved profitability. Management cited delays in semiconductor design activity, regional differences in demand recovery...

Photronics PLAB reported second-quarter fiscal 2026 non-GAAP earnings of 42 cents per share, which missed the Zacks Consensus Estimate of 53 cents by 20.75% but increased 5% year over year.Revenues of $209.94 million decreased 0.5% year over year and missed the Zacks Consensus Estimate of $217 million by 3.4%. Integrated Circuit revenues declined 5% year over year and 11% sequentially to $147.5 million. The softness reflected temporary delays in semiconductor design releases. Management attributed the delays to elevated fab utilization rates, memory supply constraints and related OEM cost pressures, as well as geopolitical uncertainty.Flat Panel Display revenues increased 13% year over year and 4% sequentially to $62.4 million. Management highlighted strength in higher-end display activity, supported by complex and larger mask sizes, as well as continued momentum in AMOLED-related demand. Photronics, Inc. price-consensus-eps-surprise-chart | Photronics, Inc. Quote Second-quarter fiscal 2026 gross margin contracted to 31.3% from 36.9% in the year-ago quarter. Selling, general and administrative expenses increased to $20.8 million from $18.1 million a year ago. Research and development expenses declined to $2.8 million from $4.1 million in the year-ago quarter.Operating income totaled $42.2 million, down from $55.7 million a year ago. The operating margin also declined year over year to 20.1% from 26.4%, reflecting weaker IC mix and operating leverage impacts. As of May 3, 2026, cash, cash equivalents and short-term investments were $637.7 million compared with $636.9 million as of Feb. 1, 2026.Total debt was $3.9 million at quarter's end, up from $0.02 million in the prior quarter.Cash generated from operating activities was $47 million in the quarter. Cash invested in organic growth through capital expenditures was $45.8 million, reflecting continued spending on the company’s U.S. and Korea expansion initiatives, end-of-life tool upgrades and facility optimization. For the third quarter of fiscal 2026, Photronics expects revenues between $207 million and $215 million. The company anticipates an operating margin in the range of 18-20% for the quarter.Non-GAAP earnings are expected between 39 cents and 45 cents per share. Currently, Photronics carries a Zacks Rank #3 (Hold).Micron Technology MU, Ciena CIEN and Amphenol APH are some better-ranked stocks that in...

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Revenue performance was impacted by a delayed seasonal recovery following Chinese New Year, as IC design releases were hindered by elevated fab utilization and geopolitical uncertainty. Management attributed IC business softness to high fab utilization rates, which prevented foundries from accommodating new design releases from customers. Memory supply constraints and surging prices led consumer electronics OEMs to prioritize existing product revenue and delay new product launches to manage rising costs. The FPD segment showed strength with 13% year-over-year growth, driven by high-end AMOLED demand in China and a re-acceleration of activity in Korea for upcoming consumer launches. Strategic investments in the U.S. and Korea are designed to align with industry regionalization and capture increased outsourcing from captive photomask producers. The company is shifting its product mix toward more advanced geometries and higher-resolution G8.6 AMOLED applications to capture higher average selling prices (ASPs). Photomask demand remains fundamentally tied to semiconductor design releases rather than wafer starts, providing a multiyear growth opportunity despite temporary macro headwinds. Fiscal 2026 capital expenditure is maintained at $330 million, focused on strategic expansions in Allen, Texas, and Korea alongside peak end-of-life tool upgrades. Initial revenue from the Allen facility expansion is anticipated late in fiscal 2026, with a more meaningful contribution to revenue growth expected in 2027 and beyond. The Korea facility expansion is projected to begin generating initial revenue by the end of fiscal 2027 as it extends capabilities to 8-nanometer nodes and below. Management expects the revenue mix in fiscal 2027 and 2028 to shift significantly toward high-end IC nodes and geographically toward the U.S. and Korea. Q3 guidance assumes revenue between $207 million and $215 million, reflecting limited visibility and the variable nature of high-end mask orders. Geopolitical developments, specifically mentioning the U.S.-Iran conflict, were cited as a primary driver of increased macroeconomic uncertainty and design delays. The company faces limited near-term visibility, with a typical order backlog of only o...

Image source: The Motley Fool. Thursday, May 28, 2026 at 8:30 a.m. ET Executive Chairman — George Macricostas Chief Financial Officer — Eric Rivera President, Photronics Taiwan — KangJyh Lee Vice President, Investor Relations — Ted Moreau George Macricostas: Thank you, Ted, and good morning, everyone. In Q2, global photomask dynamics reflected a mix of supportive long-term drivers alongside temporary headwinds. Industry demand for leading-edge memory and logic chips for AI applications remains exceptionally strong. Manufacturing these chips requires a significant number of high-end photomasks, which creates a compelling multiyear growth opportunity for Photronics. We are taking several strategic actions to strengthen our position in this growing market, which I will discuss later in more detail. Importantly, as a reminder, photomask demand is more closely aligned with semiconductor design releases than to wafer starts. In the near-term, several factors have delayed design releases, including elevated fab utilization rates, memory supply constraints and geopolitical uncertainty. Eric will further elaborate on these factors. Given these unexpected near-term headwinds for certain chip design releases, the seasonal recovery following Chinese New Year has not occurred to the extent anticipated. As a result, our IC business decreased 5% year-over-year to $148 million, resulting in total fiscal Q2 revenue of $210 million, which was essentially flat year-over-year. Despite the near-term industry headwinds, we continue to execute against our investment priorities and strengthen our position in the robust high-end market segment. Our ongoing investments in our U.S. and Korea operations are designed to strengthen Photronics long-term competitive position as we expand site capabilities into more advanced technology nodes. Both expansion projects remain on track. And over the next several years, we expect these investments to help us capture photomask demand and support a more geographically diverse revenue base. Strategically, these investments align us with the industry's ongoing manufacturing regionalization trends. They also position us to benefit from increased outsourcing opportunities from captive photomask producers, which will further shift our product mix towards more advanced geometries that carry higher ASPs. At our Korea facility, we are preparing our clean...

This article first appeared on GuruFocus. Total Revenue: $210 million, flat year-over-year. IC Revenue: $148 million, decreased 5% year-over-year. FPD Revenue: $62 million, increased 13% year-over-year. Gross Margin: 31%. Operating Margin: 20%. Diluted GAAP EPS: $0.54 per share. Non-GAAP Diluted EPS: $0.42 per share. Operating Cash Flow: $47 million, 22% of revenue. CapEx: $46 million, focused on Korean expansion and equipment installation. Total Cash and Short-term Investments: $638 million. Fiscal 2026 CapEx Guidance: $330 million. Fiscal Q3 Revenue Guidance: $207 million to $215 million. Fiscal Q3 Operating Margin Guidance: 18% to 20%. Fiscal Q3 Non-GAAP Diluted EPS Guidance: $0.39 to $0.45 per share. Warning! GuruFocus has detected 3 Warning Sign with LI. Is PLAB fairly valued? Test your thesis with our free DCF calculator. Release Date: May 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Photronics Inc (NASDAQ:PLAB) is experiencing strong demand for leading-edge memory and logic chips for AI applications, creating a multiyear growth opportunity. The company is making strategic investments in the US and Korea to strengthen its competitive position and expand capabilities into more advanced technology nodes. Photronics Inc (NASDAQ:PLAB) reported a 13% year-over-year increase in FPD revenue, driven by its capability to produce more complex, larger mask sizes and strong differentiation in AMOLED. The company's high-end US facility in Boise is qualified to produce masks at the 7-nanometer node, with ongoing work on even more advanced nodes. Photronics Inc (NASDAQ:PLAB) maintains a strong market share in Korea, with positive seasonality returning during fiscal Q2 after a slower start to the calendar year. The IC business decreased 5% year-over-year to $148 million, resulting in total fiscal Q2 revenue of $210 million, which was flat year-over-year. Several factors, including elevated fab utilization rates, memory supply constraints, and geopolitical uncertainty, have delayed design releases. The seasonal recovery following the Chinese New Year has not occurred to the extent anticipated, impacting near-term visibility. The semiconductor industry is experiencing higher-than-normal fab utilization rates, limiting capacity for additional design releases. The company faces limited visibility with a typi...

Interested in Photronics, Inc.? Here are five stocks we like better. Photronics’ fiscal Q2 revenue was essentially flat at $210 million as a 13% jump in flat panel display photomask sales to $62 million offset a 5% decline in integrated circuit revenue to $148 million. Management said near-term IC demand was slowed by delayed design releases, citing high fab utilization, memory supply constraints, and geopolitical uncertainty, which dampened the usual post-Chinese New Year recovery. Despite softer near-term visibility, Photronics kept its growth investments on track, maintaining $330 million in fiscal 2026 capex guidance for expansion in the U.S. and Korea, while projecting Q3 revenue of $207 million to $215 million. AI Insider Selling: Sales Hit Photronics, Credo & CoreWeave as Shares Spike Photronics (NASDAQ:PLAB) reported fiscal second-quarter 2026 revenue that was roughly flat from a year earlier, as strength in its display photomask business offset a decline in integrated circuit revenue tied to delayed semiconductor design releases. Chairman and Chief Executive Officer George Macricostas said global photomask demand reflected “supportive long-term drivers alongside temporary headwinds.” He pointed to strong demand for leading-edge memory and logic chips used in artificial intelligence applications, which require a large number of high-end photomasks. However, he said several factors delayed design releases in the near term, including elevated fab utilization, memory supply constraints and geopolitical uncertainty. → Rocket Lab Keeps Making Headlines and Highs—Here's What's Driving the Latest Move AI & Quantum's Next Big Winners: 3 Small-Cap Stocks to Watch in 2026 “Given these unexpected near-term headwinds for certain chip design releases, the seasonal recovery following Chinese New Year has not occurred to the extent anticipated,” Macricostas said. Total revenue for the quarter was $210 million, essentially flat year over year. Integrated circuit revenue declined 5% from a year earlier to $148 million and represented 70% of total revenue. Within IC, high-end products accounted for 38% of revenue, while mainstream IC revenue was $91 million. → Quantum Stocks Just Got a Lifeline—Who Benefits Most? Buy the Dip: Top Tech Stocks Analysts Say Are Undervalued President and Chief Financial Officer Eric Rivera said revenue from foundry customers was affected...

Photronics (PLAB) came out with quarterly earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.4 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -20.00%. A quarter ago, it was expected that this electronics imaging company would post earnings of $0.54 per share when it actually produced earnings of $0.61, delivering a surprise of +12.96%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Photronics, which belongs to the Zacks Semiconductor Equipment - Photomasks industry, posted revenues of $209.94 million for the quarter ended April 2026, missing the Zacks Consensus Estimate by 3.4%. This compares to year-ago revenues of $210.99 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Photronics shares have added about 67.2% since the beginning of the year versus the S&P 500's gain of 9.9%. While Photronics has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Photronics was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's...