Advantest (OTCMKTS:ATEYY) Shares Gap Down – Here’s Why

Advantest Corp. (OTCMKTS:ATEYY) shares gapped down before the market opened on Thursday . The stock had previously closed at $176.55, but opened at $167.20. Advantest shares last traded at $165.73, with a volume of 23,593 shares.

Analyst Ratings Changes

ATEYY has been the subject of several recent research reports. Wall Street Zen downgraded shares of Advantest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research upgraded Advantest from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Advantest currently has a consensus rating of “Moderate Buy”.

Advantest Price Performance

The firm’s 50-day moving average price is $146.60 and its 200-day moving average price is $120.24. The stock has a market cap of $120.05 billion, a P/E ratio of 60.10 and a beta of 2.01.

Advantest (OTCMKTS:ATEYY) last announced its earnings results on Wednesday, January 28th. The company reported $0.70 EPS for the quarter. The company had revenue of $1.78 billion during the quarter. Sell-side analysts expect that Advantest Corp. will post 1.61 earnings per share for the current 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.