Semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) will be reporting results tomorrow morning. Here's what to look for.
Last quarter Photronics reported revenues of $229.3 million, up 12.1% year on year, beating analyst revenue expectations by 8.68%. It was an exceptional quarter for the company, with a solid beat of analysts' revenue and EPS estimates.
Is Photronics buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Photronics's revenue to grow 4.57% year on year to $230 million, slowing down from the 28.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.52 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 4.19%.
Looking at Photronics's peers in the semiconductor manufacturing segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Lam Research's revenues decreased 30.8% year on year, beating analyst estimates by 1.83%, and Entegris reported revenues up 30.1% year on year, exceeding estimates by 1.6%. Lam Research traded up 2.2% on the results, and Entegris was flat on the results.
Investors in the semiconductor manufacturing segment have had steady hands going into the earnings, with the stocks down on average 1.73% over the last month. Photronics is down 7.29% during the same time, and is heading into the earnings with analysts' average price target of $28.0, compared to share price of $24.3.
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The author has no position in any of the stocks mentioned.