Disco (OTCMKTS:DSCSY) Trading Down 8.8% – Here’s What Happened

Disco Corp (OTCMKTS:DSCSY)’s stock price traded down 8.8% on Wednesday . The company traded as low as $47.76 and last traded at $47.76. Approximately 676,463 shares were traded during mid-day trading, an increase of 131% from the average daily volume of 293,226 shares. The stock had previously closed at $52.37.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Disco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Disco Stock Down 8.8%

The firm has a market capitalization of $51.81 billion, a PE ratio of 58.24 and a beta of 1.54. The business has a 50-day moving average price of $46.38 and a 200-day moving average price of $42.73.

Disco (OTCMKTS:DSCSY) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.25 EPS for the quarter. Disco had a return on equity of 25.27% and a net margin of 30.95%.The firm had revenue of $848.13 million for the quarter, compared to the consensus estimate of $771.53 million. On average, equities research analysts anticipate that Disco Corp will post 1.05 earnings per share for the current year.

Disco Company Profile

Disco (OTCMKTS: DSCSY) is a manufacturer of precision processing equipment and consumables for the semiconductor and electronics industries. The company’s product portfolio includes wafer dicing saws, wafer thinning and grinding systems, laser dicing equipment, polishing systems, and diamond blades and wheels, along with associated tooling and process consumables designed for high-precision cutting and surface finishing.

Disco’s products are used in critical back-end semiconductor manufacturing steps such as dicing, singulation, thinning, surface preparation and polishing across applications including IC packaging, power devices, LEDs, MEMS and sensors.