Tokyo Electron (OTCMKTS:TOELY) Shares Down 7.6% – Here’s What Happened

Tokyo Electron Ltd. (OTCMKTS:TOELY)’s share price traded down 7.6% on Friday . The company traded as low as $195.00 and last traded at $195.5180. 232,347 shares were traded during trading, a decline of 5% from the average daily volume of 245,019 shares. The stock had previously closed at $211.53.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Tokyo Electron from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 19th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Tokyo Electron Stock Performance

The company has a market capitalization of $189.84 billion, a P/E ratio of 49.11 and a beta of 1.88. The company has a 50-day simple moving average of $198.70 and a 200 day simple moving average of $155.72.

About Tokyo Electron

Tokyo Electron (OTCMKTS:TOELY) is a Japan-based manufacturer of equipment and services for the semiconductor and flat-panel display industries. The company develops, produces and sells a broad range of wafer fabrication tools used across front-end and back-end semiconductor processes, including equipment for etch, deposition, thermal processing, wafer cleaning and inspection, as well as production systems for advanced packaging and assembly. In addition to semiconductor tools, Tokyo Electron supplies production equipment and process solutions for flat-panel displays and related display technologies.

Beyond capital equipment, Tokyo Electron provides lifecycle services such as installation, maintenance, spare parts, process support and software solutions aimed at maximizing tool uptime and process yield.