Tokyo Electron (OTCMKTS:TOELY) Stock Rating Lowered by Zacks Research

Tokyo Electron (OTCMKTS:TOELY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Tokyo Electron Trading Down 9.9%

Shares of OTCMKTS TOELY opened at $170.24 on Monday. Tokyo Electron has a twelve month low of $66.10 and a twelve month high of $249.37. The company has a market capitalization of $159.36 billion, a price-to-earnings ratio of 38.96 and a beta of 1.92. The firm has a 50-day moving average of $205.65 and a two-hundred day moving average of $165.01.

Tokyo Electron (OTCMKTS:TOELY) last issued its earnings results on Thursday, July 30th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. Tokyo Electron had a net margin of 23.58% and a return on equity of 24.61%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. As a group, research analysts predict that Tokyo Electron will post 5.18 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tokyo Electron stock. Madison Asset Management LLC lifted its position in Tokyo Electron Ltd. (OTCMKTS:TOELY) by 13.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,759 shares of the company’s stock after acquiring an additional 1,775 shares during the quarter. Madison Asset Management LLC’s holdings in Tokyo Electron were worth $3,587,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.