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

Tokyo Electron Ltd. (OTCMKTS:TOELY) 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 changing hands.

Hedge Funds Weigh In On Tokyo Electron

An institutional investor recently raised its position in Tokyo Electron stock. Madison Asset Management LLC lifted its position in Tokyo Electron Ltd. (OTCMKTS:TOELY) by 13.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,759 shares of the company’s stock after buying an additional 1,775 shares during the period. Madison Asset Management LLC’s holdings in Tokyo Electron were worth $3,587,000 as of its most recent SEC filing. Institutional investors and hedge funds own 1.27% of the company’s stock.

Tokyo Electron Trading Up 0.9%

The firm has a market cap of $160.84 billion, a price-to-earnings ratio of 39.32 and a beta of 1.92. The company has a 50 day moving average of $205.28 and a 200 day moving average of $165.26.

Tokyo Electron (OTCMKTS:TOELY) last posted 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. Tokyo Electron had a return on equity of 24.61% and a net margin of 23.58%.The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. Equities analysts forecast that Tokyo Electron Ltd. will post 5.18 EPS for the current fiscal year.

Tokyo Electron Company Profile

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.