The Latest Breaking News from PLAB

Despite a massive tech sell-off on concerns over rising interest rates and a potential recession, the sector is poised to grow, given the continued digitization and increasing tech dependence. Therefore, we think it could be wise to invest in small-cap tech stocks PCTEL (PCTI), Photronics (PLAB), and Xperi Holding (XPER),…

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.