Expectations trend
FY2028 · fiscal year ending 2028-10-31 · fmp
$2.19 → $2.19 · observed estimates
Photronics, Inc. (PLAB)
NASDAQInformation TechnologySemiconductorsSnapshot 2026-11-04
$25.50-6.87%
Close 2026-11-05 · 1-day change
NASDAQInformation TechnologySemiconductorsSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
Matching fiscal periods, usable estimates and at least one analyst are required.
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
The calculation requires same-period, same-provider snapshots, positive EPS, at least one analyst and a baseline within three days of the requested lookback.
The EPS and P/E reference is not available for PLAB yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Increase EPS to at least $0.42 next quarter | A primary condition in Photronics, Inc.'s published investment case. The stated target is >= $0.42 per share. | Under Pressure | EPS falls below $0.39 next quarter | Diluted EPS: $0.49 per share FY2026-Q3; GAAP. Published target: >= $0.42 per share. Target period is not explicitly aligned with this observation. Sep 10, 20260.49 USD/share · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2028 · fiscal year ending 2028-10-31 · fmp
$2.19 → $2.19 · observed estimates
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Dec 9, 2026
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
PLAB is an established semiconductor materials business with an execution-dependent, cyclical long-term thesis. The thesis is currently intact, though company momentum has weakened and the risk level is high.
PLAB is valued cheaply versus peers, while the pricing model points to a negative expectations gap, meaning expectations appear cautious relative to its assessed fundamentals. The valuation is tagged as justified, with low fragility, but model confidence is only medium.
Near term, results show a partial recovery after Q2, but Q3 revenue and integrated circuit revenue remained below Q1 levels. Operating margin improved from Q2 and met or exceeded guidance ranges, while management has made partial progress on its high-end photomask priority. The next call remains important: peer misses and falling earnings surprises are a concern, although the stated near-term miss probability is low.
Over the next few quarters, the thesis hinges on whether revenue growth and high-end photomask progress strengthen while margins remain on track. A guidance cut would be a meaningful negative; stabilization among major technology peers or lower interest rates could provide a favorable sector backdrop.
For the 1-to-3-year view, PLAB’s thesis remains intact, but uneven revenue and weakening momentum make execution the key test. Its cheap-versus-peers valuation offers context, not certainty, and the risk level remains high. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| A primary condition in Photronics, Inc.'s published investment case. The stated target is ~19% operating margin. |
| Under Pressure |
| operating margin falls below 18% |
Operating margin: 21.06% FY2026-Q3; GAAP. Published target: ~19% operating margin. Target period is not explicitly aligned with this observation. Sep 10, 202621.062084 percent · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 3 of 3 supplied quarters. Management reported: “Fourth Quarter Fiscal 2026 Guidance For the fourth quarter of fiscal 2026, Photronics expects: • Revenue to be between $207 million and $227 million, • Operating margin to be between 19% and 24%, and • Non-GAAP diluted EPS attributable to Photronics, Inc. shareholders to be between $0.40 and $0.56 per share.” “Third Quarter Fiscal 2026 Results • Revenue was $216.0 million, an increase of 2.7% year-over-year and 2.9% sequentially.” Delivery assessment Nov 4, 2026 |
Maintain revenue near $210 million per quarter | Revenue is stable near $210 million despite market challenges. | Broken | quarterly revenue falls below $209 million | Revenue: $216.047M FY2026-Q3; GAAP. Published target: >= $209 million per quarter. Target period is not explicitly aligned with this observation. Sep 10, 2026216,047,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 3 of 3 supplied quarters. Management reported: “Fourth Quarter Fiscal 2026 Guidance For the fourth quarter of fiscal 2026, Photronics expects: • Revenue to be between $207 million and $227 million, • Operating margin to be between 19% and 24%, and • Non-GAAP diluted EPS attributable to Photronics, Inc. shareholders to be between $0.40 and $0.56 per share.” “Third Quarter Fiscal 2026 Results • Revenue was $216.0 million, an increase of 2.7% year-over-year and 2.9% sequentially.” Delivery assessment Nov 4, 2026 |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$0.95B → $0.95B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-11-01 | $2.19 | $946,275,500 | 1 / 2 |
| 2026-11-02 | $2.19 | $946,275,500 | 1 / 2 |
| 2026-11-03 | $2.19 | $946,275,500 | 1 / 2 |
| 2026-11-04 | $2.19 | $946,275,500 | 1 / 2 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 3 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 0 recorded
Individual price-target observations are unavailable.
0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.