Disco (OTCMKTS:DSCSY) Shares Gap Up – Here’s Why

Disco Corp (OTCMKTS:DSCSY) shares gapped up before the market opened on Monday. The stock had previously closed at $37.95, but opened at $40.57. Disco shares last traded at $40.04, with a volume of 25,062 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised Disco from a “hold” rating to a “buy” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Disco Stock Up 1.2%

The stock has a market cap of $44.27 billion, a P/E ratio of 46.89 and a beta of 1.56. The firm has a 50 day moving average price of $36.65 and a 200 day moving average price of $41.73.

Disco (OTCMKTS:DSCSY) last released its earnings results on Thursday, July 23rd. The company reported $0.20 earnings per share for the quarter. Disco had a net margin of 31.65% and a return on equity of 26.03%. The company had revenue of $717.28 million for the quarter. Equities analysts predict that Disco Corp will post 1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Disco

An institutional investor recently bought a new position in Disco stock. Azimuth Capital Investment Management LLC bought a new position in Disco Corp (OTCMKTS:DSCSY) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 237,250 shares of the company’s stock, valued at approximately $11,862,000. 0.03% of the stock is owned by institutional investors and hedge funds.

About Disco

DISCO Corporation is a Japan-based manufacturer of precision equipment and tools used in semiconductor and electronic-component manufacturing. The company’s products support the processing of silicon and other hard, brittle materials, including wafer thinning, dicing, grinding, polishing and other precision separation processes.

Its product portfolio includes semiconductor manufacturing equipment, precision processing tools such as diamond wheels and blades, and related equipment and consumables.