Zacks Investment Research cut shares of TDK Corp. (OTCMKTS:TTDKY) from a hold rating to a sell rating in a research note released on Friday morning.

According to Zacks, “TDK Corp. has a portfolio of technologies originally developed for its businesses involving electronic materials, components and devices, semiconductor, recording media and data storage devices. Its technical leadership includes materials research and development for dielectric, organic and semiconductor materials, process technologies for thick and thin film, metal, semiconductors and integration technologies. TDK technologies can be found in multimedia, video, television, personal computers, mobile communications, and semiconductors. (PRESS RELEASE) “

Shares of TDK Corp. (OTCMKTS TTDKY) traded up 0.51% during midday trading on Friday, hitting $67.34. The stock had a trading volume of 617 shares. TDK Corp. has a one year low of $59.26 and a one year high of $74.80. The company has a market cap of $8.50 billion, a P/E ratio of 6.47 and a beta of 1.09. The firm has a 50 day moving average of $69.74 and a 200-day moving average of $65.74.

TDK Corp. (OTCMKTS:TTDKY) last issued its earnings results on Friday, July 28th. The technology company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.19. The firm had revenue of $2.59 billion during the quarter. TDK Corp. had a net margin of 11.84% and a return on equity of 19.66%. On average, analysts forecast that TDK Corp. will post $2.98 earnings per share for the current fiscal year.

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TDK Corp. Company Profile

TDK Corporation is an electronic component manufacturer. The Company’s segments include Passive Components, Magnetic Application Products, Film Application Products and Other. The Passive Components segment includes the capacitors business, consisting of ceramic capacitors, aluminum electrolytic capacitors, and film capacitors, and the inductive devices business with coils and other passive components, including piezoelectric material components, circuit protection devices and sensors.

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