Advantest (OTCMKTS:ATEYY) Shares Gap Up – Time to Buy?

Advantest Corp. (OTCMKTS:ATEYY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $164.42, but opened at $177.00. Advantest shares last traded at $173.60, with a volume of 4,790 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on ATEYY. Wall Street Zen raised shares of Advantest from a “hold” rating to a “buy” rating in a research note on Monday, April 27th. Sanford C. Bernstein raised shares of Advantest from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Finally, Zacks Research downgraded shares of Advantest from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Advantest Price Performance

The stock has a market cap of $129.56 billion, a P/E ratio of 52.06 and a beta of 2.13. The company’s 50 day simple moving average is $167.85 and its 200 day simple moving average is $153.81.

Advantest (OTCMKTS:ATEYY) last issued its quarterly earnings data on Monday, April 27th. The company reported $1.11 earnings per share (EPS) for the quarter. Advantest had a net margin of 33.21% and a return on equity of 59.63%. The company had revenue of $2.09 billion during the quarter. On average, equities research analysts predict that Advantest Corp. will post 4.64 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.