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Photronics (PLAB) up 16% on fiscal Q4 earnings beat

By Joyanta Acharjee

15:13, 8 December 2021

Electronic circuits on a board
Integrated circuit revenue was up 18% – Photo: Shutterstock

Photronics stock rose on Wednesday as the company posted fiscal fourth-quarter earnings that beat expectations as demand for its products accelerated.

Founded in 1969, Photronics makes key components used in the manufacturing of integrated circuits and flat panel displays. It operates 11 manufacturing facilities in Asia, Europe and North America and has 1,728 employees.

For the fiscal fourth quarter ended 31 October, net income soared to $19.8m (£15m) from $6.5m a year earlier. Revenue grew 21% to $181.3m from $149.3m in the fourth quarter of 2020.

Earnings of 33 cents per share beat analyst estimates of earnings of 25 cents on revenue of $175m, according to figures widely available on financial news sites.

Stock up 16%

As at 10:05 EST (UTC-5) the stock was up 16% at $16.54.


15,953.90 Price
-0.260% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


2,199.78 Price
+1.230% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00


0.63 Price
+0.320% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


40,143.80 Price
+1.280% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

“Photronics achieved a fourth consecutive year of record revenue, as demand for our design-driven products accelerated and we fully ramped new flat panel display capacity,” Photronics CEO Peter Kirlin said in a press release.

“With strong end market demand, solid balance sheet, broad geographic presence, and a team with a proven track record, we are excited about our future and optimistic we can deliver on our long-term target model objectives,” he added.

The company said during the fourth quarter, integrated circuit revenue was up 18% while flat panel revenue grew 29%.

Looking ahead to its fiscal first quarter, Photronics expects earnings per share of between 27 cents and 34 cents and revenue of between $178m to $186m.

Read more: Semiconductor stocks for 2021

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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