Advantest (OTCMKTS:ATEYY) Shares Gap Down - Time to Sell?

Key Points

• Advantest Corp. shares gapped down from a previous close of $75.10 to open at $71.80, with the last trading price at $70.34.
• Wall Street Zen has downgraded Advantest from a "buy" rating to a "hold" rating.
• The company's market capitalization stands at $55.42 billion with a price-to-earnings ratio of 57.27.

Advantest Corp. (OTCMKTS:ATEYY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $75.10, but opened at $71.80. Advantest shares last traded at $70.34, with a volume of 59,381 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Advantest from a "buy" rating to a "hold" rating in a report on Monday, July 7th.

Advantest Stock Performance

The firm's 50 day simple moving average is $66.75 and its 200-day simple moving average is $56.33. The company has a market capitalization of $49.32 billion, a price-to-earnings ratio of 54.78 and a beta of 1.60.

Advantest (OTCMKTS:ATEYY - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.85 earnings per share for the quarter. The company had revenue of $1.83 billion for the quarter. Advantest had a return on equity of 29.15% and a net margin of 19.95%. As a group, equities analysts anticipate that Advantest Corp. will post 1.61 earnings per share for the current fiscal year.

About Advantest

Advantest Corporation manufactures and sells semiconductors, component test system products, and mechatronics related products in Japan, the Americas, Europe, and Asia. The company operates through three segments: Semiconductor and Component Test System; Mechatronics Related Business; and Services, Support and Others.