Tokyo Electron (OTCMKTS:TOELY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Tokyo Electron Limited (TEL) is a company mainly engaged in the manufacture and sale of electronic products for industrial uses. TEL is the largest manufacturer of IC and FPD production equipment in Japan and the third largest in the world. The Semiconductor Manufacturing Equipment segment is engaged in the provision of coaters and developers for wafer processing, plasma etching equipment, thermal processing systems and others. The Flat-panel Display (FPD) Manufacturing Equipment segment is engaged in the provision of coaters and developers for FPD manufacturing, plasma etching/ashing apparatus and others. The Electronic Component and Information Communication Equipment segment provides semiconductor products such as integrated circuits (ICs), computer and network equipment and software. In addition, the Company is also involved in logistics, facility management and insurance businesses. “

Shares of Tokyo Electron (OTCMKTS TOELY) traded down $0.24 during mid-day trading on Thursday, hitting $49.17. The company had a trading volume of 12,445 shares, compared to its average volume of 32,679. Tokyo Electron has a twelve month low of $23.39 and a twelve month high of $52.64. The company has a market cap of $32,229.37, a P/E ratio of 24.58, a P/E/G ratio of 1.15 and a beta of 1.27.

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Tokyo Electron Company Profile

Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, distributes, and sells semiconductor and flat panel display (FPD) production equipment in Japan, the United States, Europe, South Korea, Taiwan, China, and internationally. The company’s Semiconductor Production Equipment segment offers coaters/developers, plasma etch systems, thermal processing systems, single wafer deposition systems, cleaning systems used in wafer processing, wafer probers used in wafer testing process, electrochemical deposition systems, wafer bonders/debonders, surface preparation systems, test systems, SIC epitaxial CVD systems, gas cluster ion beam systems, and packaging products.

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