Disco (OTCMKTS:DSCSY) Shares Gap Down – Here’s What Happened

Disco Corp (OTCMKTS:DSCSY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $36.14, but opened at $34.25. Disco shares last traded at $34.26, with a volume of 5,348 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on DSCSY shares. Zacks Research cut shares of Disco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Jefferies Financial Group raised shares of Disco from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Disco has an average rating of “Moderate Buy”.

Disco Stock Down 4.1%

The company has a market cap of $37.29 billion, a price-to-earnings ratio of 39.51 and a beta of 1.55. The firm has a 50-day simple moving average of $41.23 and a 200 day simple moving average of $43.80.

Disco (OTCMKTS:DSCSY) last announced its earnings results on Thursday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter. Disco had a net margin of 31.65% and a return on equity of 26.03%. The business had revenue of $717.28 million for the quarter. As a group, research analysts expect that Disco Corp will post 1.05 EPS for the current year.

Institutional Trading of Disco

A hedge fund recently bought a new stake in Disco stock. Azimuth Capital Investment Management LLC bought a new stake in Disco Corp (OTCMKTS:DSCSY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 237,250 shares of the company’s stock, valued at approximately $11,862,000. 0.03% of the stock is owned by hedge funds and other institutional investors.

About Disco

Disco (OTCMKTS: DSCSY) is a manufacturer of precision processing equipment and consumables for the semiconductor and electronics industries. The company’s product portfolio includes wafer dicing saws, wafer thinning and grinding systems, laser dicing equipment, polishing systems, and diamond blades and wheels, along with associated tooling and process consumables designed for high-precision cutting and surface finishing.

Disco’s products are used in critical back-end semiconductor manufacturing steps such as dicing, singulation, thinning, surface preparation and polishing across applications including IC packaging, power devices, LEDs, MEMS and sensors.