Photronics (NASDAQ:PLAB) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

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

Photronics Trading Down 1.6 %

Shares of PLAB opened at $25.91 on Thursday. The company has a 50-day moving average of $28.12 and a two-hundred day moving average of $27.72. Photronics has a 12-month low of $17.98 and a 12-month high of $34.16. The stock has a market cap of $1.64 billion, a P/E ratio of 11.62 and a beta of 1.41.

Analyst Ratings Changes

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

Photronics Company Profile

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.