Zacks Investment Research downgraded shares of Nidec Co. (NASDAQ:NJDCY) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “Nidec Corp and its subsidiaries are primarily engaged in the design, development, manufacturing and marketing of i) small precision motors, ii) mid-size motors, iii) machinery and power supplies, and iv) other products, which include auto parts, pivot assemblies, encoders and other services. Manufacturing operations are located primarily in Asia and they have sales subsidiaries in Asia, North America and Europe. “

Nidec (NASDAQ:NJDCY) traded down 0.39% during trading on Friday, reaching $30.69. The company’s stock had a trading volume of 11,239 shares. Nidec has a 12 month low of $20.95 and a 12 month high of $31.41. The company has a market cap of $36.35 billion and a P/E ratio of 33.42. The stock’s 50-day moving average is $28.29 and its 200 day moving average is $25.35.

Nidec (NASDAQ:NJDCY) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Nidec had a net margin of 7.41% and a return on equity of 10.73%. The firm had revenue of $3.09 billion during the quarter. On average, equities analysts forecast that Nidec will post $0.79 EPS for the current fiscal year.

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About Nidec

Nidec Corporation is engaged in manufacturing of electric motors and related components and equipment. The Company focuses on providing brushless direct current (DC) motors for the information technology (IT) industry. The Company operates through nine segments: Nidec Corporation, Nidec Electronics (Thailand), Nidec Singapore, Nidec (H.K.), Nidec Sankyo, Nidec Copal, Nidec Techno Motor, Nidec Motor, and Nidec Motors & Actuators.

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