Tokyo Electron (OTCMKTS:TOELY) Lowered to “Hold” Rating by Zacks Research

Tokyo Electron (OTCMKTS:TOELY) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Tokyo Electron Stock Down 9.9%

Tokyo Electron stock opened at $170.24 on Monday. Tokyo Electron has a 12 month low of $66.10 and a 12 month high of $249.37. The stock has a market cap of $159.36 billion, a P/E ratio of 38.96 and a beta of 1.92. The company’s fifty day simple moving average is $205.65 and its 200-day simple moving average is $165.01.

Tokyo Electron (OTCMKTS:TOELY) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. Tokyo Electron had a return on equity of 24.61% and a net margin of 23.58%.The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. On average, equities research analysts expect that Tokyo Electron will post 5.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tokyo Electron

A hedge fund recently bought a new position in Tokyo Electron stock. J.Safra Asset Management Corp acquired a new stake in shares of Tokyo Electron Ltd. (OTCMKTS:TOELY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 516 shares of the company’s stock, valued at approximately $259,000. 1.27% of the stock is owned by institutional investors and hedge funds.

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.