Why Semiconductor Photomask Manufacturer Photronics' Shares Are Gaining Today
Portfolio Pulse from Anusuya Lahiri
Photronics, Inc (NYSE:PLAB), a semiconductor photomask manufacturer, reported Q4 FY23 revenue of $227.5 million, surpassing the consensus of $224 million, and adjusted EPS of $0.60, beating the consensus of $0.53. The company saw year-over-year growth in both IC and FPD revenues, with a 5.7% increase in gross profit, although margins declined slightly. Photronics provided Q1 guidance with expected revenue and adjusted EPS above consensus estimates. The stock has risen over 29% year-to-date and was up 4.48% in premarket trading.
December 13, 2023 | 12:28 pm
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Photronics reported strong Q4 earnings with revenue and EPS above consensus, showing growth despite industry downturn. Provided positive Q1 outlook.
Photronics' reported earnings beat and positive outlook are likely to instill investor confidence, leading to a short-term positive impact on the stock price. The premarket increase of 4.48% indicates a strong immediate reaction to the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100