Tokyo Electron (OTCMKTS:TOELY) Shares Gap Down – Here’s Why

Tokyo Electron Ltd. (OTCMKTS:TOELY) shares gapped down before the market opened on Monday . The stock had previously closed at $228.26, but opened at $217.00. Tokyo Electron shares last traded at $217.31, with a volume of 150,363 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Tokyo Electron from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 19th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Tokyo Electron Stock Performance

The company has a market cap of $206.24 billion, a P/E ratio of 53.35 and a beta of 1.88. The stock’s fifty day moving average price is $194.07 and its two-hundred day moving average price is $152.61.

Tokyo Electron Company Profile

Tokyo Electron (OTCMKTS:TOELY) is a Japan-based manufacturer of equipment and services for the semiconductor and flat-panel display industries. The company develops, produces and sells a broad range of wafer fabrication tools used across front-end and back-end semiconductor processes, including equipment for etch, deposition, thermal processing, wafer cleaning and inspection, as well as production systems for advanced packaging and assembly. In addition to semiconductor tools, Tokyo Electron supplies production equipment and process solutions for flat-panel displays and related display technologies.

Beyond capital equipment, Tokyo Electron provides lifecycle services such as installation, maintenance, spare parts, process support and software solutions aimed at maximizing tool uptime and process yield.