Photronics, Inc. (PLAB) jumped 40.91 percent to $36.20, gaining $10.51 on Wednesday, after reporting sharply higher fourth-quarter earnings compared to last year. The company posted profit of $61.80 million, or $1.07 per share, up from $33.86 million, or $0.54 per share, a year ago. On an adjusted basis, earnings were $34.55 million, or $0.60 per share. Revenue declined 3.1 percent to $215.77 million from $222.62 million.
PLAB is trading at $35.44 after opening at $32.17, with the stock moving between $31.75 and $38.15 so far today on the Nasdaq. Volume has surged to 11,540,616 shares, well above the average of 780,806.
The stock's 52-week range is $16.46 to $38.15, with today's rally pushing it to a new yearly high.
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