PLAB Photronics

Photronics, Inc is an American semiconductor photomask manufacturer. It was the third largest photomask supplier as of 2009. Founded 1969 at Danbury, Connecticut as "Photronic Labs, Inc." It has manufacturing facilities at USA , Europe , Taiwan , and one in Korea.
Company profile
Ticker
PLAB
Exchange
Website
CEO
Peter Kirlin
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
60854886
PLAB stock data
()
News
Stocks That Hit 52-Week Highs On Tuesday
6 Apr 21
Benzinga's Top Ratings Upgrades, Downgrades For February 25, 2021
25 Feb 21
Stifel Downgrades Photronics to Hold, Announces $13 Price Target
25 Feb 21
Photronics: Q1 Earnings Insights
24 Feb 21
Photronics Q1 EPS $0.13 Beats $0.11 Estimate, Sales $152.07M Beat $150.03M Estimate
24 Feb 21
Calendar
10 Mar 21
12 Apr 21
31 Oct 21
Financial summary
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Annual (USD) |
Oct 20 | Oct 19 | Oct 18 | Oct 17 | |
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Financial data from Photronics earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 281.54M | 281.54M | 281.54M | 281.54M | 281.54M | 281.54M |
Cash burn (monthly) | 21.33K | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 51.59K | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 281.49M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 13194.7 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 Apr 21 | John P Jordan | COMMON STOCK | Sell | Dispose S | No | No | 12.99 | 1,029 | 13.37K | 138,442 |
23 Mar 21 | John P Jordan | COMMON STOCK | Payment of exercise | Dispose F | No | No | 11.64 | 471 | 5.48K | 139,471 |
23 Mar 21 | Christopher J Progler | COMMON STOCK | Payment of exercise | Dispose F | No | No | 11.64 | 591 | 6.88K | 143,661 |
23 Mar 21 | Richelle E Burr | COMMON STOCK | Payment of exercise | Dispose F | No | No | 11.64 | 696 | 8.1K | 122,633 |
18 Mar 21 | Kang Jyh Lee | COMMON STOCK | Sell | Dispose S | No | No | 12.337 | 10,000 | 123.37K | 181,175 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
89.4% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 183 |
Opened positions | 25 |
Closed positions | 34 |
Increased positions | 53 |
Reduced positions | 80 |
13F shares |
Current |
---|---|
Total value | 633.24M |
Total shares | 56.66M |
Total puts | 53.6K |
Total calls | 11.4K |
Total put/call ratio | 4.7 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 10.33M | $115.27M |
Dimensional Fund Advisors | 5.23M | $58.41M |
Vanguard | 4.32M | $48.19M |
Barrow Hanley Mewhinney & Strauss | 3.14M | $35.03M |
STT State Street | 2.09M | $23.31M |
NTRS Northern Trust | 1.79M | $19.93M |
Needham Investment Management | 1.58M | $17.63M |
Wedge Capital Management L L P | 1.32M | $14.78M |
Divisar Capital Management | 1.25M | $13.97M |
BMO Bank of Montreal | 1.15M | $13.38M |
Financial report summary
?Competition
Toppan PrintingRisks
- Our dependency on the microelectronics industry, which as a whole is volatile, could create volatility in our demand and have a negative material impact on our business.
- We depend on a limited number of suppliers for equipment and raw materials and, if those suppliers fail to timely deliver their products to us, we may be unable to fulfill orders from our customers, which could adversely affect our business and results of operations.
- We have been dependent on sales to a limited number of large customers; the loss of any of these customers or a significant reduction in orders from these customers could have a material adverse effect on our revenues and results of operations.
- Our cash flows from operations and current holdings of cash may not be adequate for our current and long-term needs.
- Our credit facility restricts our business activities, limits our ability to obtain additional financing or pay cash dividends, and may obligate us to repay debt before its maturity.
- Our operations will continue to require substantial capital expenditures, for which we may be unable to provide or obtain funding.
- Servicing our debt requires a significant amount of cash, and we may not generate sufficient cash flows from our operations to pay our indebtedness.
- Our business depends on managerial and technical personnel, who are in great demand, and our inability to attract and retain qualified employees could adversely affect our business and results of operations.
- The photomask industry is subject to rapid technological change, and we might fail to remain competitive, which could have a material adverse effect on our business and results of operations.
- The risk of loss of our intellectual property, trade secrets or other sensitive business or customer confidential information or disruption of operations due to breaches of cybersecurity could negatively impact our financial results.
- We may be unable to enforce or defend our ownership and use of proprietary technology, and the utilization of unprotected company developed technology by our competitors could adversely affect our business, results of operations, and financial position.
- We operate in a highly competitive environment, and, should we be unable to meet our customers’ requirements for product quality, timeliness of delivery or technical capabilities, our revenue could be adversely affected.
- Joint ventures may not operate according to their business plans if our partners fail to fulfill their obligations, which may adversely affect our results of operations and compel us to dedicate additional resources to these joint ventures.
- Our expansion into China entails substantial risks.
- We may incur unforeseen charges related to possible future facility closures or restructurings.
- We may not be able to consummate future acquisitions or joint ventures or integrate acquisitions into our business, which could result in unanticipated expenses and losses.
- Changes in foreign currency exchange rates could have a material adverse effect on our results of operations, financial condition, or cash flows.
- Our hedging activity could negatively impact our results of operations and cash flows.
- The market price of our common stock is subject to volatility and could fluctuate widely in response to various factors, many of which are beyond our control.
- Our quarterly operating results fluctuate significantly, and may continue to do so in the future.
- Our substantial non-U.S. operations are subject to additional risks.
- We could be subject to damages based on claims brought against us by our customers, or lose customers as a result of the failure of our products to meet certain quality specifications.
- We have a high level of fixed costs.
- Additional taxes could adversely affect our financial results.
- Our business could suffer as a result of the United Kingdom’s decision to end its membership in the European Union.
- Our products and technology could be subject to and negatively impacted by the recent expansion of the foreign-produced direct product rule.
- Our products and technology could be subject to U.S. export control laws and the export control laws of the foreign jurisdictions where we operate.
- We may be unprepared for changes to environmental laws and regulations and may incur liabilities arising from environmental matters.
- Ineffective internal controls could impact our business and operating results.
- Our business could be adversely impacted by global or regional catastrophic events.
- Our production facilities could be damaged or disrupted by natural disasters or labor strikes, either of which could adversely affect our financial position, results of operations, and cash flows.
- Our sales can be impacted by the health and stability of the general economy, which could adversely affect our results of operations and cash flows.
- Technology failures or cyber security breaches could have a material adverse effect on our operations.
- We may, in the future, incur net losses.
- Liquidity and Capital Resources
- Off-Balance Sheet Arrangements
- Critical Accounting Estimates
- Recent Accounting Pronouncements
- Foreign Currency Exchange Rate Risk
- Opinions on the Financial Statements
Management Discussion
- Note: All the following tabular comparisons, unless otherwise indicated, are for the three-months ended January 31, 2021 (Q1 FY21), October 31, 2020 (Q4 FY20), and February 2, 2020 (Q1 FY20).
- Our quarterly revenues can be affected by the seasonal purchasing practices of our customers. As a result, demand for our products is typically reduced during the first, and sometimes the second, quarters of our fiscal year, by the North American, European, and Asian holiday periods, as some of our customers reduce their development and, consequently, their buying activities during those periods.
- * High-end photomasks typically have higher average selling prices (ASPs) than mainstream products.
Content analysis
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H.S. sophomore Avg
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New words:
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Removed:
accrue, advancement, April, audit, borrowed, certification, classification, covered, diode, Document, duly, equip, ERIC, executed, expiration, free, grew, hold, Instance, JOHN, JORDAN, Label, line, Linkbase, machinery, matrix, nanometer, operation, organic, package, permitted, polysilicon, proportionate, real, reassessing, recoverable, Registrant, reimbursed, Rent, repaid, RIVERA, scheduled, Schema, semiannually, senior, smaller, spending, stronger, supervision, Taxonomy, thereunto, threshold, undersigned, unforeseen, warranty, XBRL
Financial reports
10-Q
2021 Q1
Quarterly report
10 Mar 21
10-K/A
2020 FY
Annual report (amended)
22 Jan 21
10-K
2020 FY
Annual report
14 Jan 21
NT 10-K
Notice of late annual filing
30 Dec 20
10-Q
2020 Q3
Quarterly report
10 Sep 20
10-Q
2020 Q2
Quarterly report
12 Jun 20
10-Q
2020 Q1
Quarterly report
11 Mar 20
10-K
2019 FY
Annual report
20 Dec 19
10-Q
2019 Q3
Quarterly report
4 Sep 19
10-Q
2019 Q2
Quarterly report
5 Jun 19
Current reports
8-K
Submission of Matters to a Vote of Security Holders
12 Mar 21
8-K
Photronics Reports First Quarter Fiscal 2021 Results
24 Feb 21
8-K
Regulation FD Disclosure
14 Dec 20
8-K
Photronics Reports Full Year and Fourth Quarter Fiscal 2020 Results
9 Dec 20
8-K
Regulation FD Disclosure
29 Sep 20
8-K
Photronics Announces $100 Million Share Repurchase Program
14 Sep 20
8-K
Photronics Reports Third Quarter Fiscal 2020 Results
27 Aug 20
8-K
Departure of Directors or Certain Officers
16 Jul 20
8-K
Photronics, Inc.Global Leader in the Merchant Photomask Industry Investor PresentationQ2 2020
4 Jun 20
8-K
Photronics Reports Second Quarter Fiscal 2020 Results
27 May 20
Registration and prospectus
S-8
Registration of securities for employees
27 Jan 21
8-A12B
Registration of securities on exchange
24 Sep 19
S-8
Registration of securities for employees
3 May 17
S-8
Registration of securities for employees
5 Aug 14
S-8
Registration of securities for employees
9 Sep 10
S-8
Registration of securities for employees
9 Sep 10
424B3
Prospectus supplement
14 Jan 10
424B5
Prospectus supplement for primary offering
10 Sep 09
424B5
Prospectus supplement for primary offering
10 Sep 09
FWP
Free writing prospectus
10 Sep 09
Proxies
DEF 14A
Definitive proxy
18 Feb 21
DEF 14A
Definitive proxy
25 Feb 20
PRE 14A
Preliminary proxy
6 Feb 20
DEF 14A
Definitive proxy
28 Feb 19
DEF 14A
Definitive proxy
25 Feb 18
DEF 14A
Definitive proxy
12 Feb 17
DEF 14A
Definitive proxy
28 Feb 16
DEF 14A
Definitive proxy
1 Mar 15
DEF 14A
Definitive proxy
2 Mar 14
DEF 14A
Definitive proxy
21 Feb 13
Other
SD
Conflict minerals disclosure
1 Jun 20
SD
Conflict minerals disclosure
31 May 19
SD
Conflict minerals disclosure
30 May 18
CT ORDER
Confidential treatment order
12 Feb 18
CT ORDER
Confidential treatment order
8 Feb 18
UPLOAD
Letter from SEC
29 Mar 17
CORRESP
Correspondence with SEC
22 Mar 17
UPLOAD
Letter from SEC
12 Mar 17
CT ORDER
Confidential treatment order
13 Nov 16
CT ORDER
Confidential treatment order
20 Oct 15
Ownership
4
PHOTRONICS / JOHN P JORDAN ownership change
5 Apr 21
4
PHOTRONICS / JOHN P JORDAN ownership change
25 Mar 21
4
PHOTRONICS / Christopher J Progler ownership change
25 Mar 21
4
PHOTRONICS / Richelle E Burr ownership change
24 Mar 21
4
PHOTRONICS / Kang Jyh Lee ownership change
22 Mar 21
4
PHOTRONICS / Christopher J Progler ownership change
3 Mar 21
SC 13G/A
PHOTRONICS / DIMENSIONAL FUND ADVISORS ownership change
15 Feb 21
SC 13G
PHOTRONICS / BARROW HANLEY MEWHINNEY & STRAUSS ownership change
11 Feb 21
SC 13G/A
PHOTRONICS / VANGUARD ownership change
9 Feb 21
4
PHOTRONICS / JOHN P JORDAN ownership change
5 Feb 21
Transcripts
2021 Q1
Earnings call transcript
24 Feb 21
2020 Q4
Earnings call transcript
9 Dec 20
2020 Q3
Earnings call transcript
27 Aug 20
2020 Q2
Earnings call transcript
27 May 20
2020 Q1
Earnings call transcript
4 Mar 20
2019 Q4
Earnings call transcript
11 Dec 19
2019 Q3
Earnings call transcript
20 Aug 19
2019 Q2
Earnings call transcript
22 May 19
2019 Q1
Earnings call transcript
21 Feb 19
2018 Q4
Earnings call transcript
12 Dec 18
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