Advantest (OTCMKTS:ATEYY) Shares Gap Up – Here’s Why

Advantest Corp. (OTCMKTS:ATEYY) gapped up before the market opened on Wednesday . The stock had previously closed at $164.42, but opened at $177.00. Advantest shares last traded at $173.60, with a volume of 4,790 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ATEYY shares. Wall Street Zen raised Advantest from a “hold” rating to a “buy” rating in a research report on Monday, April 27th. Zacks Research downgraded Advantest from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Sanford C. Bernstein upgraded shares of Advantest from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Advantest has an average rating of “Moderate Buy”.

Advantest Trading Up 5.5%

The firm has a market capitalization of $127.02 billion, a price-to-earnings ratio of 51.04 and a beta of 2.13. The company’s 50 day moving average is $166.12 and its 200-day moving average is $152.84.

Advantest (OTCMKTS:ATEYY) last announced its quarterly earnings results on Monday, April 27th. The company reported $1.11 earnings per share for the quarter. The firm had revenue of $2.09 billion for the quarter. Advantest had a return on equity of 59.63% and a net margin of 33.21%. Research analysts expect that Advantest Corp. will post 4.64 EPS for the current year.

Advantest Company Profile

Advantest Corporation (OTCMKTS: ATEYY) is a Japan-headquartered company that specializes in the design, manufacture and sale of semiconductor test equipment and related measurement systems. Its core business is supplying automatic test equipment (ATE) and test solutions used by semiconductor manufacturers, fabless companies and outsourced test houses to validate integrated circuits, memory products, system-on-chip (SoC) devices and a broad range of analog, digital and mixed-signal components.

The company’s product portfolio includes handlers and test systems for packaged devices and wafer-level test, testers for memory and logic devices, signal and measurement instruments, and test interface and support products.