Photronics

Photronics plans capacity expansions in the US (Texas, Boise) and Korea to serve more advanced nodes (up to 4–7 nm in Boise, 8–10 nm in Korea) and to benefit from the reshoring of semiconductor manufacturing. Management stresses that revenue growth depends on the release of new designs, not wafer starts; gross margin recently rose to 33%. Photronics holds $673 million in cash (of which $504 million is tied up in a JV), expects high CapEx through FY2027, and is pursuing a cautious, stepwise EUV strategy. » More on de.investing.com

Photronics reported fiscal Q3 revenue of $216.0 million and adjusted EPS of $0.50, topping analyst estimates and triggering an early 27% intraday rally that later cooled. Management issued Q4 revenue guidance of $207 million to $227 million and adjusted EPS $0.40 to $0.56, implying modest year‑over‑year growth and a lower top‑end compared with last year. Company sees record 44% share of high‑end IC masks but faces lumpy order flows from delayed chip design releases despite busy factories. » More on finance.yahoo.com

In its Q2 2026 investor letter Heartland Value Fund singled out Photronics, a photomask manufacturer, noting the shares more than doubled from December to May. The fund reduced its PLAB stake as the stock reached its price target and was caught up in AI-driven buying, but cites Photronics as an example of a security that can still offer an attractive risk/reward. Photronics closed at $29.47 on July 14, 2026, with a market cap of $1.73 billion. » More on finance.yahoo.com