Photronics (PLAB) stock plummeted 5.28% in pre-market trading on Wednesday following the release of its second-quarter fiscal 2025 results and the announcement of a CEO transition. The semiconductor equipment manufacturer's shares reacted negatively to the news, signaling investor concerns about the company's performance and leadership change.

For the second quarter, Photronics reported a net income of $24.217 million on revenue of $210.992 million. While these figures represent the company's financial performance, the market's reaction suggests they may have fallen short of expectations. Adding to the pressure, Photronics provided a third-quarter revenue outlook of $200-208 million, which could be interpreted as a potential slowdown in growth.

The announcement of a CEO transition further compounded investor uncertainty. Leadership changes can often lead to short-term volatility in stock prices as the market assesses the potential impact on the company's future direction and performance. As Photronics navigates this transition period, investors will likely be closely monitoring any additional details about the incoming CEO and their strategic vision for the company.