Tokyo Electron (OTCMKTS:TOELY) Shares Down 7.6% – Here’s Why

Tokyo Electron Ltd. (OTCMKTS:TOELY) shares dropped 7.6% during trading on Friday . The stock traded as low as $195.00 and last traded at $195.5180. Approximately 232,347 shares traded hands during trading, a decline of 5% from the average session volume of 245,019 shares. The stock had previously closed at $211.53.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Tokyo Electron from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 19th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Tokyo Electron has an average rating of “Strong Buy”.

Tokyo Electron Trading Down 4.1%

The stock has a market capitalization of $189.84 billion, a price-to-earnings ratio of 49.11 and a beta of 1.88. The company has a fifty day moving average of $198.70 and a two-hundred day moving average of $155.72.

Tokyo Electron Company Profile

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.