Advantest (OTCMKTS:ATEYY) Shares Gap Down – Here’s Why

Advantest Corp. (OTCMKTS:ATEYY) gapped down before the market opened on Thursday . The stock had previously closed at $144.00, but opened at $134.00. Advantest shares last traded at $130.7950, with a volume of 6,967 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Advantest from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Advantest Stock Down 5.8%

The stock has a market cap of $99.30 billion, a price-to-earnings ratio of 49.33 and a beta of 2.10. The stock has a 50 day simple moving average of $160.38 and a 200 day simple moving average of $136.60.

Advantest (OTCMKTS:ATEYY) last issued its earnings results on Wednesday, January 28th. The company reported $0.70 earnings per share for the quarter. The firm had revenue of $1.78 billion for the quarter. Equities analysts expect that Advantest Corp. will post 1.61 earnings per share for the current year.

About Advantest

Advantest Corporation (OTCMKTS: ATEYY) is a Japan-headquartered company that specializes in the design, manufacture and sale of semiconductor test equipment and related measurement systems. Its core business is supplying automatic test equipment (ATE) and test solutions used by semiconductor manufacturers, fabless companies and outsourced test houses to validate integrated circuits, memory products, system-on-chip (SoC) devices and a broad range of analog, digital and mixed-signal components.

The company’s product portfolio includes handlers and test systems for packaged devices and wafer-level test, testers for memory and logic devices, signal and measurement instruments, and test interface and support products.