Photronics is a leading worldwide manufacturer of integrated circuit (IC) and flat panel display (FPD) photomasks. High precision quartz plates that contain microscopic images of electronic circuits, photomasks are a key element in the IC and FPD manufacturing process. Founded in 1969, Photronics has been a trusted photomask supplier for over 50 years. As of October 31, 2020, the company had 1,728 employees. The company operates 11 strategically located manufacturing facilities in Asia, Europe, and North America.

Company profile
Ticker
PLAB
Exchange
Website
CEO
Peter Kirlin
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
Align-Rite International, Ltd. • Photronics (Wales) Limited • Photronics California, Inc. • Photronics Idaho, Inc. • Photronics Texas Allen, Inc. • Photronics MZD, GmbH • Photronics Advanced Mask Corporation • Photronics DNP Mask Corporation • PDMC Shanghai, Ltd. • Photronics Singapore Pte, Ltd. ...
IRS number
60854886
PLAB stock data
News

12 Information Technology Stocks Moving In Thursday's Intraday Session
26 May 22
Northland Capital Markets Maintains Outperform on Photronics, Raises Price Target to $26
26 May 22
DA Davidson Maintains Buy on Photronics, Raises Price Target to $30
26 May 22
88 Biggest Movers From Yesterday
26 May 22
12 Information Technology Stocks Moving In Wednesday's Intraday Session
25 May 22
Analyst ratings and price targets
Current price
Average target
$25.67
Low target
$21.00
High target
$30.00
Northland Capital Markets
Maintains
$26.00
DA Davidson
Maintains
$30.00
Stifel
Upgraded
$21.00
Calendar
15 Jun 22
29 Jun 22
31 Oct 22
Financial summary
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Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 Jun 22 | Mitchell G Tyson | Common Stock | Sell | Dispose S | No | Yes | 21.91 | 2,000 | 43.82K | 70,379 |
18 May 22 | Richelle E Burr | Common Stock | Grant | Acquire A | No | No | 0 | 15,000 | 0 | 156,574 |
18 May 22 | Constantine S Macricostas | Common Stock | Grant | Acquire A | No | No | 0 | 10,000 | 0 | 482,075 |
18 May 22 | Kang Jyh Lee | Common Stock | Grant | Acquire A | No | No | 0 | 35,000 | 0 | 244,600 |
18 May 22 | Adam M Lewis | Common Stock | Grant | Acquire A | No | No | 0 | 12,000 | 0 | 12,000 |
26 Jan 22 | Richelle E Burr | Common Stock | Grant | Acquire A | No | No | 9.112 | 1,593 | 14.52K | 141,574 |
Institutional ownership, Q1 2022
87.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 212 |
Opened positions | 36 |
Closed positions | 15 |
Increased positions | 67 |
Reduced positions | 78 |
13F shares | Current |
---|---|
Total value | 917.6M |
Total shares | 53.96M |
Total puts | 152.3K |
Total calls | 82.8K |
Total put/call ratio | 1.8 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 9.81M | $166.4M |
Dimensional Fund Advisors | 4.57M | $77.49M |
Vanguard | 4.36M | $74.03M |
Barrow Hanley Mewhinney & Strauss | 2.54M | $43.07M |
STT State Street | 2.14M | $36.4M |
AIGH Capital Management | 1.22M | $20.7M |
Geode Capital Management | 1.15M | $19.52M |
NTRS Northern Trust | 1.13M | $19.17M |
Nuveen Asset Management | 1.02M | $17.98M |
Royce & Associates | 949.85K | $16.12M |
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 dependent on the semiconductor and display industries, which are subject to rapid technological change and fluctuations in capacity needs. Consequently, we might fail to adequately time our capabilities to market needs, 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 cyberattacks or data breaches 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.
- 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.
- COVID-19 vaccination mandates could adversely affect our ability to attract and maintain employees.
- Additional taxes could adversely affect our financial results.
- 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.
- 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.
- We operate in a global, competitive environment which gives rise to operating and market risk exposure.
Management Discussion
- Note: All tabular comparisons included in the following discussion, unless otherwise indicated, are for the three months ended May 1, 2022 (Q2 FY22), January 30, 2022 (Q1 FY22), and May 2, 2021 (Q2 FY21), and for the six months ended May 1, 2022 (YTD FY22) and May 2, 2021 (YTD FY21), in millions of dollars. The columns may not foot due to rounding.
- 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 or second quarter 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
?Positive | ||
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H.S. sophomore Avg
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New words:
abroad, acquisition, added, adding, April, area, audit, ban, BIS, bombardment, Bureau, catastrophic, chipmaker, chipmaking, coating, Commerce, Concurrently, confirming, confiscation, contemplated, contrary, decided, Department, deployment, destruction, difficult, eject, emplaced, enacted, energetic, energy, escalation, export, external, Federation, final, governmental, harm, heading, Huawei, importation, inflation, invasion, large, license, lifetime, lost, manner, military, monetary, outbreak, outcome, People, policy, political, public, reaction, regional, regulatory, Republic, Russian, softened, sputtering, Subtopic, surface, temporary, terrorist, troubled, Ukraine, unpaid, Vintage, weakening, widespread
Removed:
commence, fell, impair
Current reports
8-K
Photronics Reports Second Quarter Fiscal 2022 Results and Updates Long-Term Target Model
25 May 22
8-K
Departure of Directors or Certain Officers
20 May 22
8-K
Departure of Directors or Certain Officers
14 Mar 22
8-K
Photronics Reports First Quarter Fiscal 2022 Results
23 Feb 22
8-K
Regulation FD Disclosure
13 Jan 22
8-K
Photronics Reports Full Year and Fourth Quarter Fiscal 2021 Results
8 Dec 21
8-K
Photronics Reports Third Quarter Fiscal 2021 Results
25 Aug 21
8-K
Photronics Reports Second Quarter Fiscal 2021 Results
26 May 21
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
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
Other
SD
Conflict minerals disclosure
31 May 22
SD
Conflict minerals disclosure
24 May 21
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
Ownership
4
PHOTRONICS / MITCHELL G TYSON ownership change
3 Jun 22
4
PHOTRONICS / ADAM M LEWIS ownership change
20 May 22
3
PHOTRONICS / ADAM M LEWIS ownership change
20 May 22
4
PHOTRONICS / Kang Jyh Lee ownership change
20 May 22
4
PHOTRONICS / CONSTANTINE S MACRICOSTAS ownership change
20 May 22
4
PHOTRONICS / Richelle E Burr ownership change
20 May 22
4
PHOTRONICS / MITCHELL G TYSON ownership change
4 May 22
4
PHOTRONICS / MITCHELL G TYSON ownership change
4 May 22
4
PHOTRONICS / Christopher J Progler ownership change
6 Apr 22
4
PHOTRONICS / MITCHELL G TYSON ownership change
5 Apr 22
Patents
Utility
Pellicle for Flat Panel Display Photomask
16 Dec 21
A pellicle assembly for large-size photomasks including a frame member configured to be affixed to a large-size photomask substrate, a substantially rigid and transparent pellicle membrane affixed to the frame member so as to protect at least a portion of the large-size photomask substrate from contamination during usage, storage and/or transport, and a coating on at least one of top and bottom surfaces of the pellicle membrane that binds the pellicle membrane to prevent separation of pellicle membrane material in the event of breakage.
Utility
Pellicle Removal Tool
9 Dec 21
A pellicle removal tool including a stage that holds a photomask and an associated pellicle, two or more arms positioned around the stage and configured to engage pellicle side wells of the pellicle, and two or more actuators each configured to adjust at least a vertical position of a corresponding one of the two or more arms so as to apply a lifting force to the pellicle for removal of the pellicle from the photomask.
Utility
Pellicle removal tool
23 Nov 21
A pellicle removal tool including a stage that holds a photomask and an associated pellicle, two or more arms positioned around the stage and configured to engage pellicle side wells of the pellicle, and two or more actuators each configured to adjust at least a vertical position of a corresponding one of the two or more arms so as to apply a lifting force to the pellicle for removal of the pellicle from the photomask.
Utility
System, Method, and Program Product for Manufacturing a Photomask
4 Nov 21
Methods and systems for building a photomask from obtained pattern information relating to a photomask that exhibits defects on wafer.
Utility
Pellicle for flat panel display photomask
14 Sep 21
A pellicle assembly for large-size photomasks including a frame member configured to be affixed to a large-size photomask substrate, a substantially rigid and transparent pellicle membrane affixed to the frame member so as to protect at least a portion of the large-size photomask substrate from contamination during usage, storage and/or transport, and a coating on at least one of top and bottom surfaces of the pellicle membrane that binds the pellicle membrane to prevent separation of pellicle membrane material in the event of breakage.
Transcripts
2022 Q2
Earnings call transcript
25 May 22
2022 Q1
Earnings call transcript
23 Feb 22
2021 Q4
Earnings call transcript
8 Dec 21
2021 Q3
Earnings call transcript
25 Aug 21
2021 Q2
Earnings call transcript
26 May 21
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
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