Photronics Inc. (PLAB)
Summary
Photronics: The Next Rally Depends On A Recovery In Chip Design Activity
Photronics is rated a buy, with a conservative FY 2026 price target of $32, reflecting 16% upside after a sharp share price correction. PLAB's recent revenue decline and margin contraction stem from delayed IC design releases, memory supply constraints, and geopolitical uncertainty, but liquidity remains robust. Any recovery in tape-out activities or normalization of design releases could catalyze sentiment and drive share price recovery for PLAB.
Photronics: Attractive Buy Near Book Value After Q2 Earnings Sell-Off
Photronics trades at an attractive valuation after dropping 48% since reporting an FQ2 miss and a soft FQ3 guidance, driven by slower-than-expected chip design releases. Short-term headwinds driving Photronics' FQ2 miss and soft FQ3 guidance appear to be alleviating, with management noting a rebound in chip design tape-outs in early May. Photronics' high-end FPD segment is a likely beneficiary from Samsung Display beginning mass production for G8.6 AMOLED displays for Apple's MacBook Pro models this month.
PLAB Q2 Earnings Miss on Delayed Semiconductor Design Releases
Photronics' Q2 FY26 EPS and revenue miss estimates as IC revenues fall on delayed chip design releases; gross margin shrinks, and Q3 guidance remains cautious.
Photronics Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| CE Curtis Ellergodt Rothschild Investment LLC | 129 | $3,666.14 | $3,772.04 | $105.9 | 2.89% |
| ABB Alexander Bjornager Bonde Danske Bank A/S | 300 | $9,600 | $8,772.18 | -$827.82 | -8.62% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 6,303 | $254,704.23 | $181,107.88 | -$73,596.35 | -28.89% |
 Vaughan Nelson Vaughan Nelson Investment Management LP | 1.19M | $47.9M | $35.29M | -$12.61M | -26.33% |
| BG Bart Gancher Intech Investment Management LLC | 78,675 | $2.75M | $2.26M | -$490,301.45 | -17.84% |
Photronics Inc. Analysts
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| DY Danial Yermakhan Freedom Broker | 2,441.5 | $70,461.57 | $69,594.84 | -$866.73 | -1.23% |
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Photronics Inc. Profile
| Semiconductors & Semiconductor Equipment Industry | Information Technology Sector | George C. Macricostas CEO | NASDAQ (NGS) Exchange | 719405102 CUSIP |
| US Country | 1,908 Employees | - Last Dividend | 2 Dec 1997 Last Split | 10 Mar 1987 IPO Date |
Overview
Photronics, Inc., along with its subsidiaries, operates in the photomask manufacturing industry, delivering a wide array of products and services across the United States, Taiwan, China, Korea, Europe, and other international markets. Founded in 1969 and originally known as Photronic Labs, Inc., the company rebranded to Photronics, Inc. in 1990 and has since established itself as a leading provider in the manufacture of photomasks. Photomasks are crucial components in the production of integrated circuits and flat panel displays (FPDs), being key in transferring circuit patterns onto semiconductor wafers and FDP substrates. Based in Brookfield, Connecticut, Photronics serves a diverse clientele that includes semiconductor and FDP manufacturers, designers, foundries, and other companies within the high-performance electronics sector, leveraging direct sales and customer service teams to reach its market.
Products and Services
- Photomasks for Integrated Circuits
Photronics, Inc. specializes in the production of high-quality photomasks that are used in the manufacturing process of integrated circuits. These photomasks assist in accurately transferring intricate circuit patterns onto semiconductor wafers, a critical step in the creation of semiconductor devices.
- Photomasks for Flat Panel Displays (FPDs)
The company also manufactures photomasks designed for use in the production of flat panel displays. These photomasks enable the precise transfer of display circuit patterns onto FDP substrates, facilitating the production of various types of displays used in computers, televisions, and other electronic devices.
- Electrical and Optical Components
In addition to photomasks, Photronics offers a range of electrical and optical components that support the needs of semiconductor and FDP manufacturers. This includes advanced components that enhance the performance and efficiency of electronic devices.
