Why Is Photronics (PLAB) Stock Rocketing Higher Today
What Happened: Shares of semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) jumped 11.2% in the after-market session after the company reported impressive second quarter results that beat analysts' expectations for revenue. Management highlighted the record revenue achieved in the quarter, which was driven by robust demand for integrated circuits and flat panel displays despite mixed demand and macro backdrops for other semiconductor peers. Profitability also improved, with gross margin and operating margin both exceeding expectations. These were driven by positive volume leverage, pricing, favorable mix, and tight control of cost. Lastly, revenue and EPS guidance for the next quarter were ahead of Consensus, making for a solid quarter with many reasons for investor positivity. ... Continue Reading
Adam Hejl 2023/05/24 2:13pm
What Happened: Shares of semiconductor photomask manufacturer Photronics (NASDAQ:PLAB) jumped 11.2% in the after-market session after the company reported impressive second quarter results that beat analysts' expectations for revenue. Management highlighted the record revenue achieved in the quarter, which was driven by robust demand for integrated circuits and flat panel displays despite mixed demand and macro backdrops for other semiconductor peers. Profitability also improved, with gross margin and operating margin both exceeding expectations. These were driven by positive volume leverage, pricing, favorable mix, and tight control of cost. Lastly, revenue and EPS guidance for the next quarter were ahead of Consensus, making for a solid quarter with many reasons for investor positivity. ... Continue Reading