Why Photronics Stock Just Popped 16%
Investors in semiconductor manufacturing equipment maker Photronics (NASDAQ: PLAB), which makes the "photomasks" used to transfer circuit patterns onto semiconductor wafers, are putting on a happy face on Wednesday. Shares of the chip equipment maker surged 15.8% higher through 12:10 p.m. ET after beating earnings.
And why are they surging? Because instead of the $244 million revenue and $0.53-per-share (pro forma) profit that Wall Street had predicted for Photronics' fiscal Q4 2023 report, Photronics just reported $227.5 million in sales, and $0.60 in earnings (also pro forma).
And CEO Frank Lee pointed out that Q4 marked the wrapping up of Photronics' sixth straight year of reporting record sales growth.
Source Fool.com
Photronics Inc. Stock
€26.26
2.260%
Photronics Inc. is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 39 € there is a positive potential of 48.51% for Photronics Inc. compared to the current price of 26.26 €.
