Tokyo Electron (OTCMKTS:TOELY) Shares Gap Down – Here’s What Happened

Tokyo Electron Ltd. (OTCMKTS:TOELY) gapped down before the market opened on Thursday . The stock had previously closed at $111.35, but opened at $106.00. Tokyo Electron shares last traded at $107.2950, with a volume of 16,060 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Tokyo Electron from a “strong sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Tokyo Electron Stock Down 2.0%

The company has a fifty day simple moving average of $94.24 and a two-hundred day simple moving average of $85.90. The company has a market cap of $99.30 billion, a price-to-earnings ratio of 27.36 and a beta of 1.93.

Tokyo Electron (OTCMKTS:TOELY) last released its quarterly earnings results on Friday, October 31st. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Tokyo Electron had a net margin of 21.74% and a return on equity of 29.10%. On average, research analysts predict that Tokyo Electron Ltd. will post 3.23 EPS for the current year.

About Tokyo Electron

Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, and sells semiconductor and flat panel display (FPD) production equipment in Japan, Europe, North America, Taiwan, China, South Korea, Southeast Asia, and internationally. The company offers coaters/developers, etch systems, surface preparation systems, deposition systems, test systems, wafer bonders/debonders, wafer edge trimming, SiC epitaxial CVD systems, gas cluster ion beam system, and cleaning systems.