Disco (OTCMKTS:DSCSY) Shares Gap Down on Analyst Downgrade

Disco Corp (OTCMKTS:DSCSY) gapped down prior to trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $29.24, but opened at $27.60. Disco shares last traded at $28.29, with a volume of 23,244 shares changing hands.

Separately, Jefferies Financial Group raised Disco from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Institutional Trading of Disco

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

Disco Stock Up 7.0%

The firm has a market capitalization of $32.75 billion, a P/E ratio of 30.01 and a beta of 1.67. The firm has a 50 day moving average of $33.94 and a 200-day moving average of $41.25.

Disco (OTCMKTS:DSCSY) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $0.27 earnings per share for the quarter. The firm had revenue of $897.04 million during the quarter. Disco had a return on equity of 27.68% and a net margin of 32.04%. As a group, research analysts expect that Disco Corp will post 1.11 EPS for the current year.

About Disco

DISCO Corporation develops and manufactures precision processing equipment and tools used in semiconductor and electronic-component production. Its products include grinding, dicing and polishing machines, along with the blades and other consumables used in those processes. The company’s technologies help manufacturers cut, thin and shape semiconductor wafers and other hard, brittle materials. DISCO serves customers in the global semiconductor industry and maintains operations and support for customers in markets around the world.