Tokyo Electron (OTCMKTS:TOELY) Shares Gap Down Following Analyst Downgrade

Tokyo Electron Ltd. (OTCMKTS:TOELY)’s stock price gapped down before the market opened on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $188.85, but opened at $173.83. Tokyo Electron shares last traded at $172.69, with a volume of 13,279 shares.

Institutional Trading of Tokyo Electron

A hedge fund recently bought a new stake in Tokyo Electron stock. J.Safra Asset Management Corp acquired a new stake in shares of Tokyo Electron Ltd. (OTCMKTS:TOELY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 516 shares of the company’s stock, valued at approximately $259,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

Tokyo Electron Stock Performance

The stock has a market capitalization of $160.84 billion, a P/E ratio of 39.32 and a beta of 1.92. The stock has a 50 day moving average of $205.28 and a 200 day moving average of $165.26.

Tokyo Electron (OTCMKTS:TOELY) last issued its earnings results on Thursday, July 30th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. Tokyo Electron had a return on equity of 24.61% and a net margin of 23.58%. On average, research analysts anticipate that Tokyo Electron Ltd. will post 5.18 EPS for the current fiscal year.

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.