Zacks Research Downgrades Tokyo Electron (OTCMKTS:TOELY) to Hold

Tokyo Electron (OTCMKTS:TOELY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Tokyo Electron Stock Down 9.9%

Tokyo Electron stock opened at $170.24 on Monday. The stock has a market cap of $159.36 billion, a price-to-earnings ratio of 38.96 and a beta of 1.92. The business has a 50-day simple moving average of $205.65 and a 200 day simple moving average of $165.01. Tokyo Electron has a 52 week low of $66.10 and a 52 week high of $249.37.

Tokyo Electron (OTCMKTS:TOELY) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. Tokyo Electron had a return on equity of 24.61% and a net margin of 23.58%.The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.67 billion. On average, research analysts anticipate that Tokyo Electron will post 5.18 earnings per share for the current year.

Institutional Investors Weigh In On Tokyo Electron

An institutional investor recently bought a new stake in Tokyo Electron stock. J.Safra Asset Management Corp bought a new stake in shares of Tokyo Electron Ltd. (OTCMKTS:TOELY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 516 shares of the company’s stock, valued at approximately $259,000. 1.27% of the stock is owned by institutional investors.

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.