Photronics (NASDAQ:PLAB) Shares Gap Down on Disappointing Earnings

Photronics, Inc. (NASDAQ:PLAB) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $53.51, but opened at $36.81. Photronics shares last traded at $35.7130, with a volume of 2,144,142 shares trading hands.

The semiconductor company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.11). Photronics had a return on equity of 7.88% and a net margin of 15.83%.The business had revenue of $209.94 million for the quarter, compared to the consensus estimate of $216.47 million. During the same period in the prior year, the business posted $0.40 earnings per share. Photronics’s revenue was down .5% compared to the same quarter last year.

Key Stories Impacting Photronics

Here are the key news stories impacting Photronics this week:

• Negative Sentiment: Photronics reported Q2 earnings of $0.42 per share, missing the $0.53 consensus estimate, while revenue of $209.9 million also came in below expectations. Photronics Reports Second Quarter 2026 Results
• Negative Sentiment: Investors were also disappointed by management’s guidance, with reports citing delays, supply strain, and uncertainty that suggest the recovery may take longer than expected. Photronics CEO Flags Delays, Supply Strain, And Uncertainty
• Neutral Sentiment: Additional coverage from earnings snapshots and market commentary largely reiterated the same story: PLAB’s results were weaker than expected, which appears to be the main catalyst behind the stock’s decline today. Photronics: Fiscal Q2 Earnings Snapshot

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLAB shares. Zacks Research cut Photronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Lake Street Capital restated a “buy” rating and set a $55.00 price objective on shares of Photronics in a research note on Friday, May 1st. Craig Hallum reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Photronics in a report on Tuesday, March 3rd. Wall Street Zen upgraded Photronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings upgraded Photronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Photronics currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Insiders Place Their Bets

In other Photronics news, Director Constantine S. Macricostas sold 50,000 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $45.35, for a total value of $2,267,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Hsueh-Chun Wang sold 19,250 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $45.30, for a total value of $872,025.00. Following the completion of the transaction, the chief operating officer owned 113,560 shares of the company’s stock, valued at $5,144,268. This represents a 14.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 346,144 shares of company stock worth $15,061,759 over the last 90 days. Insiders own 3.30% of the company’s stock.

Institutional Trading of Photronics

Several hedge funds and other institutional investors have recently made changes to their positions in PLAB. Victory Capital Management Inc. raised its holdings in Photronics by 699.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,305,610 shares of the semiconductor company’s stock valued at $52,914,000 after buying an additional 2,017,052 shares during the last quarter. Invesco Ltd. grew its holdings in Photronics by 395.9% during the 4th quarter. Invesco Ltd. now owns 1,536,374 shares of the semiconductor company’s stock worth $49,164,000 after acquiring an additional 1,226,588 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Photronics in the 1st quarter valued at approximately $47,902,000. Janus Henderson Group PLC raised its stake in shares of Photronics by 2,201.5% during the fourth quarter. Janus Henderson Group PLC now owns 621,448 shares of the semiconductor company’s stock valued at $19,883,000 after acquiring an additional 594,446 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Photronics by 14.7% during the fourth quarter. LSV Asset Management now owns 2,883,463 shares of the semiconductor company’s stock valued at $92,271,000 after acquiring an additional 370,489 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.

Photronics Price Performance

The company has a market cap of $2.07 billion, a price-to-earnings ratio of 14.98 and a beta of 1.51. The business’s fifty day moving average price is $46.28 and its 200 day moving average price is $37.11.

Photronics Company Profile

Photronics, Inc is a leading global supplier of photomask products used in the manufacture of integrated circuits, flat panel displays, microelectromechanical systems (MEMS), and advanced packaging applications. Photomasks, also known as reticles, are critical templates that carry the precise circuit patterns required for semiconductor lithography processes. The company offers a comprehensive range of mask solutions, including binary masks, attenuated phase-shift masks, reticles for micro-optics, and specialized products for high‐resolution applications.

Founded in 1969 and headquartered in Brookfield, Connecticut, Photronics has grown through organic expansion and strategic investments in high‐end lithography technology.