The Latest Breaking News from PLAB

Photronics, Inc (NASDAQ:PLAB) reported second-quarter FY22 revenue growth of 28% year-on-year to $204.5 million, beating the consensus of $192.4 million. Segments: Integrated circuit (IC) revenue grew 30% Y/Y to $145.8 million. Flat-panel display (FPD) revenue increased 23% Y/Y to $58.7 million. Margin: The gross margin expanded by 1,140 bps to 36%. The operating margin expanded…

The technology sector has witnessed an aggressive market sell-off since the beginning of the year, largely due to the Fed's hawkish stance. However, strong corporate earnings and increasing investments in tech upgrades should help the sector rebound quickly. Therefore, under-the-radar tech stocks Progress Software (PRGS), Rimini Street, Inc. (RMNI), and…

Stifel upgraded its rating of Photronics (NASDAQ:PLAB) to Buy with a price target of $21.00, changing its price target from $19.00 to $21.00. Shares of Photronics are trading up 4.48% over the last 24 hours, at $15.16 per share.

Photronics Inc (NASDAQ:PLAB) reported first-quarter FY22 revenue growth of 25% year-on-year to $189.8 million, beating the consensus of $183.1 million. Segments: Integrated circuit (IC) revenue grew 24% Y/Y to $129.8 million. Flat-panel display (FPD) revenue increased 27% Y/Y to $60.1 million. Margin: The gross margin expanded by 1,146 bps to 31.5%. EPS of $0.38 beat…