Shares of Tokyo Electron Ltd. (OTCMKTS:TOELY – Get Free Report) dropped 7.3% on Wednesday . The stock traded as low as $175.03 and last traded at $175.03. 10,745 shares were traded during trading, a decline of 96% from the average session volume of 246,155 shares. The stock had previously closed at $188.85.
Analyst Ratings Changes
Separately, Zacks Research downgraded Tokyo Electron from a “strong-buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Tokyo Electron currently has a consensus rating of “Hold”.
Get Our Latest Analysis on TOELY
Tokyo Electron Trading Up 2.2%
Tokyo Electron (OTCMKTS:TOELY – Get Free Report) last released its quarterly earnings data 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 company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. On average, research analysts predict that Tokyo Electron Ltd. will post 5.18 EPS for the current year.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in Tokyo Electron stock. J.Safra Asset Management Corp bought a new position in shares of Tokyo Electron Ltd. (OTCMKTS:TOELY – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 516 shares of the company’s stock, valued at approximately $259,000. 1.27% of the stock is owned by institutional investors and hedge funds.
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.
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