Zacks Investment Research upgraded shares of TOKYO ELECTRON/ADR (OTCMKTS:TOELY) from a hold rating to a strong-buy rating in a research report report published on Friday, Zacks.com reports. They currently have $49.00 target price on the stock.
According to Zacks, “Tokyo Electron Limited (TEL) is a company mainly engaged in the manufacture and sale of electronic products for industrial uses. TEL is the largest manufacturer of IC and FPD production equipment in Japan and the third largest in the world. The Semiconductor Manufacturing Equipment segment is engaged in the provision of coaters and developers for wafer processing, plasma etching equipment, thermal processing systems and others. The Flat-panel Display (FPD) Manufacturing Equipment segment is engaged in the provision of coaters and developers for FPD manufacturing, plasma etching/ashing apparatus and others. The Electronic Component and Information Communication Equipment segment provides semiconductor products such as integrated circuits (ICs), computer and network equipment and software. In addition, the Company is also involved in logistics, facility management and insurance businesses. “
TOELY stock opened at $41.54 on Friday. The stock has a market cap of $28.08 billion, a PE ratio of 11.83, a P/E/G ratio of 1.26 and a beta of 1.50. TOKYO ELECTRON/ADR has a one year low of $27.04 and a one year high of $44.44. The stock has a 50 day moving average price of $38.40.
Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, distributes, and sells semiconductor and flat panel display (FPD) production equipment in Japan, North America, Europe, South Korea, Taiwan, China, and internationally. The company's Semiconductor Production Equipment segment offers coaters/developers, plasma etch systems, and single wafer deposition systems and cleaning systems used in wafer processing; wafer probers used in wafer testing process; and electrochemical deposition systems and wafer bonders/debonders used in packaging processes.
See Also: What is an overbought condition?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TOKYO ELECTRON/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TOKYO ELECTRON/ADR and related companies with MarketBeat.com's FREE daily email newsletter.