Advantest (OTCMKTS:ATEYY) Shares Gap Down – What’s Next?

Shares of Advantest Corp. (OTCMKTS:ATEYY) gapped down before the market opened on Friday . The stock had previously closed at $177.00, but opened at $164.2025. Advantest shares last traded at $164.25, with a volume of 33,991 shares trading hands.

Wall Street Analysts Forecast Growth

ATEYY has been the topic of a number of analyst reports. Zacks Research cut Advantest from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen raised Advantest from a “hold” rating to a “buy” rating in a research report on Monday, April 27th. Finally, Sanford C. Bernstein raised Advantest from a “hold” rating to a “strong-buy” rating in a research 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.com, Advantest presently has a consensus rating of “Moderate Buy”.

Advantest Stock Down 8.5%

The stock has a fifty day simple moving average of $167.85 and a 200 day simple moving average of $153.81. The firm has a market capitalization of $118.55 billion, a P/E ratio of 47.64 and a beta of 2.13.

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

About Advantest

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.