Tokyo Electron (OTCMKTS:TOELY) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Tokyo Electron Ltd. (OTCMKTS:TOELYGet Free Report)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $188.70 and traded as low as $176.08. Tokyo Electron shares last traded at $177.27, with a volume of 146,280 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Tokyo Electron from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

View Our Latest Stock Analysis on TOELY

Tokyo Electron Stock Performance

The firm has a market capitalization of $155.58 billion, a PE ratio of 38.03 and a beta of 1.92. The company has a fifty day simple moving average of $186.52 and a two-hundred day simple moving average of $169.43.

Tokyo Electron (OTCMKTS:TOELYGet Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.67 billion. Tokyo Electron had a return on equity of 24.38% and a net margin of 23.58%. On average, equities analysts anticipate that Tokyo Electron Ltd. will post 5.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tokyo Electron

An institutional investor recently raised its position in Tokyo Electron stock. Madison Asset Management LLC increased its holdings in shares of Tokyo Electron Ltd. (OTCMKTS:TOELYFree Report) by 13.7% during the second quarter, according to the company in its most recent disclosure with the SEC. 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 SEC filing. Hedge funds and other institutional investors own 1.27% of the company’s stock.

Tokyo Electron Company Profile

(Get Free Report)

Tokyo Electron Limited is a Japanese manufacturer of semiconductor production equipment. The company supplies tools used throughout the wafer-fabrication process, including coater/developers for lithography, plasma etch systems, deposition equipment, wafer-cleaning systems, thermal processing equipment and wafer-probing systems.

Tokyo Electron also develops equipment used to manufacture flat-panel displays, including systems for coating, developing and etching display substrates. Its products are sold to semiconductor and display manufacturers worldwide, with operations, service capabilities and customer support across Japan, North America, Europe and Asia.

Founded in 1963 and headquartered in Tokyo, Tokyo Electron has expanded from a trading and technology-services business into one of the world’s leading suppliers of semiconductor manufacturing equipment.

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