Tokyo Electron (OTCMKTS:TOELY) Trading Down 7.3% – Time to Sell?

Tokyo Electron Ltd. (OTCMKTS:TOELY) shares fell 7.3% on Wednesday . The company traded as low as $175.03 and last traded at $175.03. Approximately 10,745 shares were traded during trading, a decline of 96% from the average daily volume of 246,155 shares. The stock had previously closed at $188.85.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Tokyo Electron from a “strong-buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Tokyo Electron Stock Down 3.0%

The stock has a 50-day moving average of $204.41 and a 200 day moving average of $165.50. The stock has a market cap of $156.37 billion, a PE ratio of 38.23 and a beta of 1.92.

Tokyo Electron (OTCMKTS:TOELY) last issued its earnings results on Thursday, July 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. Tokyo Electron had a return on equity of 24.61% and a net margin of 23.58%.The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Research analysts forecast that Tokyo Electron Ltd. will post 5.18 EPS 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 purchased a new position in shares of Tokyo Electron Ltd. (OTCMKTS:TOELY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 516 shares of the company’s stock, valued at approximately $259,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

About Tokyo Electron

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.