Disco (OTCMKTS:DSCSY) Stock Price Down 11.2% – Here’s What Happened

Disco Corp (OTCMKTS:DSCSY) shares fell 11.2% during mid-day trading on Wednesday . The company traded as low as $41.82 and last traded at $42.77. Approximately 24,520 shares were traded during trading, a decline of 92% from the average session volume of 300,672 shares. The stock had previously closed at $48.17.

Analysts Set New Price Targets

Separately, Zacks Research cut Disco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy”.

Disco Stock Performance

The business’s 50-day moving average price is $46.34 and its 200 day moving average price is $43.28. The stock has a market capitalization of $45.39 billion, a PE ratio of 51.02 and a beta of 1.50.

Disco (OTCMKTS:DSCSY) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.25 earnings per share (EPS) for the quarter. Disco had a return on equity of 25.27% and a net margin of 30.95%.The company had revenue of $848.13 million for the quarter, compared to the consensus estimate of $771.53 million. As a group, equities research analysts predict that Disco Corp will post 1.05 earnings per share for the current year.

About Disco

Disco (OTCMKTS: DSCSY) is a manufacturer of precision processing equipment and consumables for the semiconductor and electronics industries. The company’s product portfolio includes wafer dicing saws, wafer thinning and grinding systems, laser dicing equipment, polishing systems, and diamond blades and wheels, along with associated tooling and process consumables designed for high-precision cutting and surface finishing.

Disco’s products are used in critical back-end semiconductor manufacturing steps such as dicing, singulation, thinning, surface preparation and polishing across applications including IC packaging, power devices, LEDs, MEMS and sensors.