Photronics installs first US merchant market multi-beam mask writer

BROOKFIELD, Conn. - Photronics, Inc. (NASDAQ:PLAB), a $1.22 billion market cap semiconductor equipment manufacturer currently identified as undervalued by InvestingPro analysts, has installed a new multi-beam writing tool at its Boise, Idaho facility, marking the first such system in production for the merchant market in the United States, according to a company press release.

The multi-beam tool uses a parallel writing engine designed to increase speed and performance for U.S.-built merchant photomask products. Photomasks are high-precision quartz plates containing microscopic images of electronic circuits used in the manufacturing of integrated circuits (ICs) and flat panel displays. The company maintains strong financial health with virtually no debt and a current ratio of 5.13, indicating robust operational capability.

"This installation extends Photronics leadership in support of U.S. Government Trusted and commercial advanced photomask applications in the U.S. and globally," said CEO George Macricostas.

The company’s Chief Technology Officer, Chris Progler, noted that beyond writing speed, the multi-beam platform enables production of complex IC mask shapes found in critical curvilinear designs. The system can also write the highest resolution extreme ultraviolet (EUV) and nanoimprint masks.

"By enabling production of these new IC design forms, it creates opportunities for our U.S. and global customers to deliver higher performing IC products faster," Progler said.

Photronics indicated that it is currently working with multiple customers to pilot and qualify this capability. The company operates 11 manufacturing facilities across Asia, Europe, and North America and has been in the photomask business since 1969. Trading at a P/E ratio of 10.12 with annual revenue of $857 million, the company shows promising fundamentals. For deeper insights into Photronics’ technology sector positioning and growth potential, access the comprehensive Pro Research Report available on InvestingPro, which covers 1,400+ top stocks with expert analysis and actionable intelligence.

In other recent news, Photronics Inc. reported its financial results for the second quarter of 2025, which fell short of expectations. The company announced earnings per share of $0.40, missing the forecasted $0.48, while revenue reached $211 million, just below the anticipated $212 million. This underperformance was a factor in the company’s stock experiencing a decline. Additionally, DA Davidson adjusted its price target for Photronics shares to $30 from a previous target of $35, although the firm maintained a Buy rating. The reduction in the price target followed a series of announcements, including the CEO’s departure after three years. These developments have contributed to a more cautious outlook on the company’s financial future.

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