Tokyo Electron (OTCMKTS:TOELY) Shares Gap Down – Here’s Why

Tokyo Electron Ltd. (OTCMKTS:TOELY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $184.50, but opened at $168.91. Tokyo Electron shares last traded at $167.6240, with a volume of 9,354 shares.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Tokyo Electron from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 19th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Tokyo Electron Trading Down 9.6%

The business’s fifty day moving average price is $203.85 and its 200 day moving average price is $160.45. The firm has a market capitalization of $140.42 billion, a price-to-earnings ratio of 36.32 and a beta of 1.88.

Tokyo Electron (OTCMKTS:TOELY) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. Tokyo Electron had a net margin of 23.40% and a return on equity of 22.98%. As a group, sell-side analysts forecast that Tokyo Electron Ltd. will post 5.18 earnings per share 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.