Advantest (OTCMKTS:ATEYY) Stock Price Up 10.4% – Here’s Why

Advantest Corp. (OTCMKTS:ATEYY) shares rose 10.4% during trading on Thursday . The stock traded as high as $160.93 and last traded at $159.76. Approximately 17,504 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 75,669 shares. The stock had previously closed at $144.72.

Wall Street Analysts Forecast Growth

ATEYY has been the subject of several analyst reports. Sanford C. Bernstein raised shares of Advantest from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Zacks Research downgraded shares of Advantest from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised shares of Advantest from a “hold” rating to a “buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Advantest Trading Up 10.3%

The company’s fifty day simple moving average is $169.43 and its 200 day simple moving average is $154.71. The stock has a market capitalization of $116.88 billion, a P/E ratio of 46.96 and a beta of 2.13.

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

Advantest Company Profile

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.