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Technology Stocks : Semi Equipment Analysis

SOXX 305.47

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Nov 5 4:00 PM EST

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To: Return to Sender who wrote (88744)	8/30/2022 10:16:22 AM
From: Return to Sender	1 Recommendation of 95366

Photronics Stock Plummets After Chip Gear Maker Guides Low finance.yahoo.com Semiconductor equipment supplier Photronics ( PLAB) on Tuesday beat Wall Street's targets for its fiscal third quarter. But its guidance for the current quarter came up short. PLAB stock plunged on the news. The Brookfield, Conn.-based company earned 51 cents a share on sales of $219.9 million in the quarter ended July 31. Analysts polled by FactSet expected Photronics earnings of 50 cents a share on sales of $210 million. On a year-over-year basis, Photronics earnings jumped 82% while sales increased 29%. For the current quarter, Photronics forecast earnings of 48 cents a share on sales of $210 million. That's based on the midpoint of its outlook. Wall Street had predicted Photronics earnings of 53 cents a share on sales of $214.5 million for the fiscal fourth quarter. "We achieved our sixth consecutive quarter of record revenue due to strong end market demand, favorable pricing dynamics, and outstanding performance by the entire organization," Chief Executive Frank Lee said in a news release. He added, "We are expanding capacity and growing volumes while controlling costs and capitalizing on operating leverage to deliver higher margins."

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