Why Photronics Stock Jumped 19% Today
Shares of semiconductor manufacturing equipment maker Photronics (NASDAQ: PLAB) exploded higher in Wednesday trading -- up a solid 19% as of 10:35 a.m. ET -- after the company reported strong results for its fiscal 2021 fourth quarter.
Analysts had forecast that Photronics, which produces quartz and glass "photomasks" used as guides to manufacture semiconductors and flat panel displays, would earn $0.25 per share on sales of $175 million. In fact, for the period, which ended Oct. 31, Photronics earned $0.33 per share -- 32% more than predicted -- on sales of $181.3 million.
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Source Fool.com
