Advantest (OTCMKTS:ATEYY) Shares Gap Down - Here's Why

Key Points

• Advantest shares experienced a significant gap down, opening at $99.02 after closing at $102.70, indicating potential volatility in the stock price.
• Recent analyst ratings show a split; while Wall Street Zen upgraded Advantest to a "buy" rating, Zacks Research downgraded it to a "hold," resulting in a consensus rating of "hold" among analysts.
• In its latest quarterly earnings, Advantest reported $0.85 earnings per share and a revenue of $1.83 billion, highlighting a solid net margin of 19.95% and a return on equity of 29.15%.

Advantest Corp. (OTCMKTS:ATEYY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $102.70, but opened at $99.02. Advantest shares last traded at $102.29, with a volume of 44,939 shares changing hands.

Wall Street Analyst Weigh In

ATEYY has been the topic of a number of recent research reports. Zacks Research downgraded shares of Advantest from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Advantest from a "hold" rating to a "buy" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Advantest has an average rating of "Hold".

Advantest Trading Up 3.1%

The stock's 50-day simple moving average is $78.88 and its 200 day simple moving average is $62.00.

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

Advantest Company Profile

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.