PLAB - Why Photronics Rocketed 48.5% Higher in December
2024-01-07 10:00:00 ET
Shares of semiconductor photomask maker Photronics (NASDAQ: PLAB) rocketed 48.5% higher in the month of December, according to data from S&P Global Market Intelligence .
Photronics is an interesting small-cap stock within the very large and dynamic semiconductor manufacturing ecosystem, and it's also one of the cheaper stocks one will find in the space. But investors are perhaps sensing the opportunity, bidding shares up nearly 50% in the aftermath of the company's impressive fourth fiscal quarter earnings report last month.
The semiconductor sector has experienced a "rolling" downturn over the last few years after the "boom" during the pandemic. First, PCs went into a severe, worst-ever decline in 2022, with smartphone units following on weakness in China. Currently, auto and industrial chips appear to be undergoing a correction as supply chain snarls have been worked out.
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Why Photronics Rocketed 48.5% Higher in December