Disco (OTCMKTS:DSCSY) Shares Gap Down – Here’s What Happened

Shares of Disco Corp (OTCMKTS:DSCSY) gapped down prior to trading on Tuesday . The stock had previously closed at $36.14, but opened at $34.25. Disco shares last traded at $34.26, with a volume of 5,348 shares traded.

Wall Street Analysts Forecast Growth

DSCSY has been the subject of several research analyst reports. Zacks Research cut Disco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Jefferies Financial Group raised shares of Disco from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Disco Stock Down 4.1%

The firm has a fifty day moving average of $41.23 and a 200-day moving average of $43.80. The stock has a market capitalization of $37.29 billion, a price-to-earnings ratio of 39.51 and a beta of 1.55.

Disco (OTCMKTS:DSCSY) last posted its earnings results on Thursday, July 23rd. The company reported $0.20 earnings per share for the quarter. Disco had a return on equity of 26.03% and a net margin of 31.65%.The company had revenue of $717.28 million for the quarter. As a group, research analysts forecast that Disco Corp will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Disco

An institutional investor recently bought a new stake in Disco stock. Azimuth Capital Investment Management LLC bought a new position in shares of Disco Corp (OTCMKTS:DSCSY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 237,250 shares of the company’s stock, valued at approximately $11,862,000. Institutional investors and hedge funds own 0.03% of the company’s stock.

Disco Company Profile

Disco (OTCMKTS: DSCSY) is a manufacturer of precision processing equipment and consumables for the semiconductor and electronics industries. The company’s product portfolio includes wafer dicing saws, wafer thinning and grinding systems, laser dicing equipment, polishing systems, and diamond blades and wheels, along with associated tooling and process consumables designed for high-precision cutting and surface finishing.

Disco’s products are used in critical back-end semiconductor manufacturing steps such as dicing, singulation, thinning, surface preparation and polishing across applications including IC packaging, power devices, LEDs, MEMS and sensors.