Disco (OTCMKTS:DSCSY) Shares Gap Down – Here’s What Happened

Disco Corp (OTCMKTS:DSCSY)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $37.14, but opened at $34.40. Disco shares last traded at $33.49, with a volume of 10,197 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DSCSY. Jefferies Financial Group upgraded shares of Disco from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. Zacks Research upgraded shares of Disco from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat.com, Disco currently has an average rating of “Strong Buy”.

Disco Stock Performance

The company has a market capitalization of $36.89 billion, a PE ratio of 39.07 and a beta of 1.56. The firm’s 50-day simple moving average is $36.74 and its 200 day simple moving average is $41.53.

Disco (OTCMKTS:DSCSY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.20 earnings per share for the quarter. The company had revenue of $717.28 million during the quarter. Disco had a return on equity of 26.03% and a net margin of 31.65%. As a group, equities analysts anticipate that Disco Corp will post 1.11 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Disco stock. Azimuth Capital Investment Management LLC acquired a new stake in shares of Disco Corp (OTCMKTS:DSCSY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 237,250 shares of the company’s stock, valued at approximately $11,862,000. 0.03% of the stock is owned by institutional investors and hedge funds.

About Disco

DISCO Corporation is a Japan-based manufacturer of precision equipment and tools used in semiconductor and electronic-component manufacturing. The company’s products support the processing of silicon and other hard, brittle materials, including wafer thinning, dicing, grinding, polishing and other precision separation processes.

Its product portfolio includes semiconductor manufacturing equipment, precision processing tools such as diamond wheels and blades, and related equipment and consumables.