TOKYO ELECTRON/ADR (TOELY) Rating Increased to Hold at Zacks Investment Research

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TOKYO ELECTRON/ADR (OTCMKTS:TOELY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Tokyo Electron Limited (TEL) is a company mainly engaged in the manufacture and sale of electronic products for industrial uses. TEL is the largest manufacturer of IC and FPD production equipment in Japan and the third largest in the world. The Semiconductor Manufacturing Equipment segment is engaged in the provision of coaters and developers for wafer processing, plasma etching equipment, thermal processing systems and others. The Flat-panel Display (FPD) Manufacturing Equipment segment is engaged in the provision of coaters and developers for FPD manufacturing, plasma etching/ashing apparatus and others. The Electronic Component and Information Communication Equipment segment provides semiconductor products such as integrated circuits (ICs), computer and network equipment and software. In addition, the Company is also involved in logistics, facility management and insurance businesses. “

Separately, Deutsche Bank downgraded shares of TOKYO ELECTRON/ADR from a “buy” rating to a “hold” rating in a report on Monday, October 1st.

TOELY traded down $1.93 during trading on Thursday, hitting $31.84. The stock had a trading volume of 4,365 shares, compared to its average volume of 33,289. The company has a market capitalization of $22.31 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.69 and a beta of 1.23. TOKYO ELECTRON/ADR has a 12 month low of $30.84 and a 12 month high of $53.50.

About TOKYO ELECTRON/ADR

Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, distributes, and sells semiconductor and flat panel display (FPD) production equipment in Japan, North America, Europe, South Korea, Taiwan, China, and internationally. The company's Semiconductor Production Equipment segment offers coaters/developers, plasma etch systems, and single wafer deposition systems and cleaning systems used in wafer processing; wafer probers used in wafer testing process; and electrochemical deposition systems and wafer bonders/debonders used in packaging processes.

Further Reading: What are different types of coverage ratios?

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