These Semiconductor Equipment Stocks Are Moving On Earnings News

Semiconductor equipment stocks moving on earnings news Wednesday included PLAB stock and UCTT stock. Photronics (PLAB) reported quarterly results early Wednesday. Ultra Clean Holdings (UCTT) posted its earnings after the close.


Brookfield, Conn.-based Photronics delivered a beat-and-raise report. It earned 38 cents a share on sales of $189.8 million in its fiscal first quarter ended Jan. 30. Analysts had expected earnings of 31 cents a share on sales of $183.1 million. On a year-over-year basis, Photronics earnings jumped 192% while sales rose 25%.

For the current quarter, Photronics forecast earnings of 35 cents a share on sales of $192 million. That’s based on the midpoint of its guidance. Wall Street had predicted per-share earnings of 32 cents on sales of $185.6 million. Its outlook would translate to year-over-year growth of 106% in earnings and 20% in sales.

Photronics makes photomasks for integrated circuits and flat panel displays. Photomasks are high-precision quartz plates that contain microscopic images of electronic circuits and are used in the production of semiconductors and display devices.

PLAB Stock Flirts With Buy Point

“We’ve aligned our operations and technology to serve the strongest sectors of the market, such as AMOLED for mobile displays, high-end logic devices for advanced electronics and mainstream ICs to support the proliferation of chips needed for the enablement of the Internet of Things,” Photronics Chief Executive Peter Kirlin said in a news release.

At the opening bell on the stock market today, PLAB stock jumped 9.3% to a 17-year high of 20.30. It passed a buy point of 20.03 out of an eight-week consolidation pattern before retreating, according to IBD MarketSmith charts.

PLAB stock ended the regular session Wednesday down 7.1% to 17.26 on a brutal day for the overall market.

Ultra Clean Tops Quarterly Targets

Meanwhile, Ultra Clean stock dropped 4.5% to close the session at 44.64 ahead of its post-bell earnings report for the fourth quarter. UCTT stock has been consolidating for the past 15 weeks with a buy point of 60.94.

The Hayward, Calif.-based company edged above Wall Street’s targets for the December quarter but offered mixed guidance.

Ultra Clean earned an adjusted $1.22 a share on sales of $615.1 million in the fourth quarter. Analysts had expected Ultra Clean earnings of $1.20 a share on sales of $606 million. On a year-over-year basis, Ultra Clean earnings rose 51% while sales climbed 66%.

For the current quarter, Ultra Clean forecast adjusted earnings of $1.16 a share on sales of $605 million. That’s based on the midpoint of its outlook. Wall Street had predicted earnings of $1.16 a share on sales of $589 million in the first quarter. In the year-earlier period, Ultra Clean earned 92 cents a share on sales of $418 million.

UCTT stock was not active in after-hours trading.

Ultra Clean provides ultra-high-purity cleaning equipment and services primarily for the semiconductor industry.

PLAB Stock Ranks Second In Industry Group

Early Thursday, another semiconductor equipment supplier, Nova (NVMI), is due to report its results for the fourth quarter.

PLAB stock is tied for second place with Nova and Onto Innovation (ONTO) in IBD’s semiconductor equipment industry group, according to IBD Stock Checkup. Those three stocks share an IBD Composite Rating of 98 out of a best-possible 99. UCTT stock ranks ninth in the group with a Composite Rating of 86.

The semiconductor equipment group ranks No. 54 out of 197 industry groups that IBD tracks.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.


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