Disco (OTCMKTS:DSCSY) Stock Falls 6.8% – Here’s Why

Disco Corp (OTCMKTS:DSCSY) fell 6.8% during mid-day trading on Wednesday. The company traded as low as $37.51 and last traded at $37.5805. Approximately 4,315 shares were traded during trading, a decline of 99% from the average daily volume of 290,981 shares. The stock had previously closed at $40.31.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DSCSY. Zacks Research upgraded Disco from a “hold” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group raised Disco from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Strong Buy”.

Disco Stock Performance

The firm has a market capitalization of $41.55 billion, a PE ratio of 44.01 and a beta of 1.56. The company’s 50-day moving average price is $36.65 and its 200-day moving average price is $41.73.

Disco (OTCMKTS:DSCSY) last posted its earnings results on Thursday, July 23rd. The company reported $0.20 earnings per share for the quarter. Disco had a return on equity of 26.03% and a net margin of 31.65%.The firm had revenue of $717.28 million during the quarter. As a group, analysts anticipate that Disco Corp will post 1.11 earnings per share for the current year.

Hedge Funds Weigh In On Disco

A hedge fund recently bought a new stake in Disco stock. Azimuth Capital Investment Management LLC acquired a new stake in Disco Corp (OTCMKTS:DSCSY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 237,250 shares of the company’s stock, valued at approximately $11,862,000. 0.03% of the stock is currently owned by institutional investors and hedge funds.

Disco Company Profile

DISCO Corporation is a Japan-based manufacturer of precision equipment and tools used in semiconductor and electronic-component manufacturing. The company’s products support the processing of silicon and other hard, brittle materials, including wafer thinning, dicing, grinding, polishing and other precision separation processes.

Its product portfolio includes semiconductor manufacturing equipment, precision processing tools such as diamond wheels and blades, and related equipment and consumables.