Photronics Inc. (PLAB)
Photronics Inc. (PLAB) Q4 2024 Earnings Call Transcript
Photronics Inc. (NASDAQ:PLAB ) Q4 2024 Earnings Conference Call December 11, 2024 8:30 AM ET Company Participants Ted Moreau - Vice President of Investor Relations Frank Lee - Chief Executive Officer Eric Rivera - Chief Financial Officer Chris Progler - Chief Technology Officer Conference Call Participants Tom Diffely - D. A. Davidson Operator Good day, and welcome to the Photronics Q4 FY'24 Earnings Call.
Photronics: Pull-Back On Soft Near-Term Demand Creates Long-Term Buying Opportunity
Significant revenue and profit growth between 2020 and 2023 drove the stock price above the $30-mark earlier this year. Following several earnings misses caused by softer than expected photomask demand in 2024, PLAB stock is down close to -30% YTD. Mid- and longer-term growth and profitability trends seem to be intact, as Photronics is well positioned to capitalize on secular tailwinds.
Photronics: Extremely Undervalued, And A Cash Rich Photomask Leader
Photronics, Inc. is a leading manufacturer of photomasks for semiconductors, with significant demand due to AI and IoT applications. Planned investments in IC capacity and efficiency in 2024 could drive FCF growth. The company is also expecting demand for its products thanks to supply chain regionalization and differentiation by design.
3 Under-the-Radar Stocks to Transform $10K into $100K by 2029: June Edition
The stock market makes companies rapidly gain value every day. However, when it comes to companies which increase as much as 10X over half a decade, there are a few common factors such as an innovative product, positive quarterly and annual growth, and earnings which regularly beat estimates.
Photronics (PLAB) Q2 Earnings Miss Estimates, Revenues Fall Y/Y
Photronics (PLAB) second-quarter fiscal 2024 results reflect weakness in the IC and FPD segments due to the impact of the Taiwan earthquake and the Chinese New Year holiday.
Photronics (PLAB) Q2 2024 Earnings Call Transcript
Photronics Inc. (NASDAQ:PLAB ) Q2 2024 Earnings Conference Call May 22, 2024 8:30 AM ET Company Participants Frank Lee - Chief Executive Officer Eric Rivera - interim Chief Financial Officer, Chief Accounting Officer Chris Progler - Chief Technology Officer Richelle Burr - Executive Vice President, Chief Administrative Officer Conference Call Participants Linda Umwali - DA Davidson Eric Reckwood - [unknown firm] Operator Good day and thank you for standing by. Welcome to the Photronics second quarter 2024 earnings conference call.
Swiss National Bank Trims Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)
Swiss National Bank lowered its holdings in shares of Photronics, Inc. (NASDAQ:PLAB – Free Report) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,200 shares of the semiconductor company’s stock after selling 14,200 shares during the quarter. Swiss National Bank owned 0.20% of Photronics worth $3,865,000 as of its most recent SEC filing. Other hedge funds also recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its stake in shares of Photronics by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 27,266 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 370 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Photronics by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,499 shares of the semiconductor company’s stock worth $1,208,000 after acquiring an additional 819 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Photronics by 571.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 897 shares during the period. Mendota Financial Group LLC increased its position in shares of Photronics by 20.8% during the fourth quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock worth $192,000 after acquiring an additional 1,053 shares during the period. Finally, LVZ Inc. raised its stake in shares of Photronics by 11.8% during the fourth quarter. LVZ Inc. now owns 12,657 shares of the semiconductor company’s stock valued at $397,000 after acquiring an additional 1,331 shares in the last quarter. Institutional investors own 88.38% of the company’s stock. Wall Street Analysts Forecast Growth Separately, StockNews.com cut Photronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd. Read Our Latest Stock Analysis on Photronics Photronics Price Performance NASDAQ:PLAB opened at $28.64 on Monday. Photronics, Inc. has a 1-year low of $16.71 and a 1-year high of $34.16. The company has a 50-day moving average of $28.21 and a 200 day moving average of $27.60. The firm has a market cap of $1.81 billion, a PE ratio of 12.84 and a beta of 1.41. Photronics (NASDAQ:PLAB – Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $216.30 million during the quarter, compared to analysts’ expectations of $220.00 million. Photronics had a return on equity of 10.37% and a net margin of 15.34%. Photronics’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Sell-side analysts anticipate that Photronics, Inc. will post 2.15 EPS for the current fiscal year. Photronics Profile (Free Report) Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.
Photronics (PLAB) to Post Q2 Earnings: What's in the Offing?
Photronics (PLAB Quick QuotePLAB - Free Report) is set to report its second-quarter fiscal 2024 results on May 22.For the to-be-reported quarter, PLAB expects revenues between $226 million and $236 million. Non-GAAP earnings are expected to be between 50 cents and 58 cents.The Zacks Consensus Estimate for earnings is pegged at 55 cents, unchanged in the past 30 days and indicating 1.85% year-over-year growth.The company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing the same on two occasions, the average surprise being 8%.Photronics, Inc. Price and EPS Surprise Photronics, Inc. price-eps-surprise | Photronics, Inc. Quote Let’s see how things have shaped up before this announcement.Factors Likely to Influence Q2 ResultsPhotronics' second-quarter 2024 results are expected to have benefited in the Integrated Circuit (IC) and Flat Panel Display (FPD) segments. The IC segment is experiencing an increasing number of customers in Asia migrating to more advanced technology nodes, such as 28 and 22 nanometres. This upside is likely to have driven the demand for high-end photomasks in the to-be-reported quarter. In the FPD segment, the increasing usage of AMOLED displays for mobile applications is expected to have aided top-line growth. The demand for display masks is expected to have remained high as panel makers introduced new advancements to attract customers for premium smartphones. The memory market is also experiencing a recovery in demand, particularly from Tier 2 providers involved in high-value applications. This recovery is expected to have boosted Photronics memory photomask business in the second quarter.Gross margin is expected to have benefited from strong demand for both high-end IC and FPD products. For the second quarter, gross margin is expected to be around 38%, up from 36.6% in the first quarter.What Our Model IndicatesPer the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.Photronics has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. Stocks to ConsiderHere are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases: NVIDIA (NVDA Quick QuoteNVDA - Free Report) has an Earnings ESP of +3.62% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. NVIDIA’s shares have surged 86.8% year to date. NVDA is scheduled to release first-quarter fiscal 2025 results on May 22. Snowflake (SNOW Quick QuoteSNOW - Free Report) has an Earnings ESP of +6.25% and a Zacks Rank #2 at present.Snowflake’s shares have declined 18.7% year to date. SNOW is set to report first-quarter fiscal 2025 results on May 22.Agilent Technologies (A Quick QuoteA - Free Report) has an Earnings ESP of +0.42% and a Zacks Rank #3. Agilent Technologies has inched up 11% year to date. A is set to report its second-quarter fiscal 2024 results on May 29.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>
