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Photronics: Extremely Undervalued, And A Cash Rich Photomask Leader
PLABPhotronics(PLAB) Seeking Alpha·2024-07-19 14:21

PM Images Photronics, Inc. (NASDAQ:PLAB) is a leading manufacturer of photomasks, which are necessary for manufacturing semiconductors. The company can see significant demand thanks to the ongoing demand for semiconductors due to new AI and IoT applications. I would also expect FCF growth thanks to the planned investments in IC capacity and efficiency announced for 2024. Assuming a conservative growth rate comparable with previous headcount growth, FCF growth, and net PP&E growth, my DCF model indicated tha ...