Tokyo Electron (OTCMKTS:TOELY) Shares Gap Down – Here’s Why

Shares of Tokyo Electron Ltd. (OTCMKTS:TOELY) gapped down before the market opened on Tuesday . The stock had previously closed at $175.33, but opened at $166.42. Tokyo Electron shares last traded at $166.32, with a volume of 3,554 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of Tokyo Electron from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Tokyo Electron Price Performance

The stock has a market cap of $158.91 billion, a P/E ratio of 38.85 and a beta of 1.92. The firm’s fifty day moving average price is $193.73 and its two-hundred day moving average price is $168.06.

Tokyo Electron (OTCMKTS:TOELY) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion. Tokyo Electron had a return on equity of 24.38% and a net margin of 23.58%. On average, research analysts expect that Tokyo Electron Ltd. will post 5.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Tokyo Electron stock. Madison Asset Management LLC increased its stake in Tokyo Electron Ltd. (OTCMKTS:TOELY) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,759 shares of the company’s stock after purchasing an additional 1,775 shares during the period. Madison Asset Management LLC’s holdings in Tokyo Electron were worth $3,587,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.27% of the company’s stock.

Tokyo Electron Company Profile

Tokyo Electron (OTCMKTS:TOELY) is a Japan-based manufacturer of equipment and services for the semiconductor and flat-panel display industries. The company develops, produces and sells a broad range of wafer fabrication tools used across front-end and back-end semiconductor processes, including equipment for etch, deposition, thermal processing, wafer cleaning and inspection, as well as production systems for advanced packaging and assembly. In addition to semiconductor tools, Tokyo Electron supplies production equipment and process solutions for flat-panel displays and related display technologies.

Beyond capital equipment, Tokyo Electron provides lifecycle services such as installation, maintenance, spare parts, process support and software solutions aimed at maximizing tool uptime and process yield.