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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

PLAB stock data

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Calendar

10 Mar 21
12 Apr 21
31 Oct 21
Quarter (USD)
Jan 21 Oct 20 Aug 20 May 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Oct 20 Oct 19 Oct 18 Oct 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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

Beta Read what these cash burn values mean

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

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 Prev Q Change
Total holders 183 192 -4.7%
Opened positions 25 18 +38.9%
Closed positions 34 27 +25.9%
Increased positions 53 73 -27.4%
Reduced positions 80 73 +9.6%
13F shares
Current Prev Q Change
Total value 633.24M 581.09M +9.0%
Total shares 56.66M 58.28M -2.8%
Total puts 53.6K 87.5K -38.7%
Total calls 11.4K 33.6K -66.1%
Total put/call ratio 4.7 2.6 +80.5%
Largest owners
Shares Value Change
BLK Blackrock 10.33M $115.27M +4.7%
Dimensional Fund Advisors 5.23M $58.41M -1.7%
Vanguard 4.32M $48.19M +0.1%
Barrow Hanley Mewhinney & Strauss 3.14M $35.03M -8.2%
STT State Street 2.09M $23.31M -3.5%
NTRS Northern Trust 1.79M $19.93M -1.9%
Needham Investment Management 1.58M $17.63M +46.5%
Wedge Capital Management L L P 1.32M $14.78M -10.8%
Divisar Capital Management 1.25M $13.97M +3.3%
BMO Bank of Montreal 1.15M $13.38M +17.7%
Largest transactions
Shares Bought/sold Change
Kames Capital 0 -532.4K EXIT
VIEX Capital Advisors 514.16K +514.16K NEW
Needham Investment Management 1.58M +501.78K +46.5%
BLK Blackrock 10.33M +464.02K +4.7%
Renaissance Technologies 636.2K -369.15K -36.7%
Millennium Management 17.82K -322.84K -94.8%
Pacific Ridge Capital Partners 411.63K +294.08K +250.2%
Brandywine Global Investment Management 0 -283.32K EXIT
Barrow Hanley Mewhinney & Strauss 3.14M -278.8K -8.2%
Heartland Advisors 903.4K +270.4K +42.7%

Financial report summary

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Competition
Toppan Printing
Risks
  • 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.
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