PLAB - Why Is This Tech Growth Stock Down 38% From Its 52-Week High?
Photronics (NASDAQ: PLAB) , a tech company involved in making microchips and flat-panel displays (FPDs), beat earnings-per-share estimates in its earnings release late last month -- and also posted its sixth straight quarter of record revenue.
But this semiconductor stock has plummeted more than 38% from the 52-week high it reached last month. Why did the stock drop, and what can investors expect moving forward?
Photronics is the world's largest manufacturer of photomasks, photographic quartz plates used to make miniature electronic circuits. Known primarily for their use in semiconductors, photomasks are used in a range of high-tech products, including mobile devices, TVs, PCs, and FPDs.
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Why Is This Tech Growth Stock Down 38% From Its 52-Week High?