Tokyo Electron (OTCMKTS:TOELY) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Tokyo Electron (OTCMKTS:TOELY) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Tokyo Electron Stock Down 9.9%

OTCMKTS TOELY opened at $170.24 on Monday. Tokyo Electron has a 52 week low of $66.10 and a 52 week high of $249.37. The company has a 50 day moving average price of $205.65 and a 200 day moving average price of $165.01. The firm has a market cap of $159.36 billion, a PE ratio of 38.96 and a beta of 1.92.

Tokyo Electron (OTCMKTS:TOELY) last announced its 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 net margin of 23.58% and a return on equity of 24.61%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.67 billion. On average, equities research analysts anticipate that Tokyo Electron will post 5.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tokyo Electron stock. Madison Asset Management LLC increased its stake in Tokyo Electron Ltd. (OTCMKTS:TOELY) by 13.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission. Institutional investors own 1.27% of the company’s stock.

About Tokyo Electron

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.