Advantest (OTCMKTS:ATEYY) Trading Up 8% – Here’s Why

Shares of Advantest Corp. (OTCMKTS:ATEYY) shot up 8% during mid-day trading on Wednesday . The stock traded as high as $191.59 and last traded at $189.14. Approximately 2,431 shares traded hands during trading, a decline of 98% from the average session volume of 108,395 shares. The stock had previously closed at $175.16.

Analysts Set New Price Targets

Several brokerages have issued reports on ATEYY. Zacks Research raised shares of Advantest from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 17th. Sanford C. Bernstein upgraded Advantest from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen raised Advantest from a “hold” rating to a “buy” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Advantest currently has a consensus rating of “Buy”.

Advantest Stock Performance

The company has a 50-day moving average of $179.90 and a 200-day moving average of $164.93. The firm has a market capitalization of $136.37 billion, a price-to-earnings ratio of 54.79 and a beta of 2.10.

Advantest (OTCMKTS:ATEYY) last posted its quarterly earnings data on Monday, April 27th. The company reported $1.11 earnings per share (EPS) for the quarter. The business had revenue of $2.09 billion during the quarter. Advantest had a return on equity of 55.98% and a net margin of 33.21%. As a group, analysts anticipate that Advantest Corp. will post 4.95 EPS for the current fiscal year.

About Advantest

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.