Tokyo Electron (OTCMKTS:TOELY) Shares Down 9.4% – Here’s What Happened

Tokyo Electron Ltd. (OTCMKTS:TOELY) shares were down 9.4% during mid-day trading on Wednesday . The stock traded as low as $150.24 and last traded at $150.24. Approximately 77,647 shares changed hands during trading, a decline of 68% from the average daily volume of 244,191 shares. The stock had previously closed at $165.90.

Wall Street Analysts Forecast Growth

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

Tokyo Electron Trading Down 6.4%

The company has a market capitalization of $145.38 billion, a price-to-earnings ratio of 37.61 and a beta of 1.88. The stock’s fifty day simple moving average is $203.87 and its 200-day simple moving average is $160.22.

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.