Advantest (OTCMKTS:ATEYY) Shares Gap Down - What's Next?

Key Points

• Advantest shares gapped down premarket from $196.00 to an open of $180.62 and last traded at $182.1250 on a volume of about 13,917 shares.
• Analysts have trended positive recently, with Sanford C. Bernstein and Zacks upgrading to "strong-buy" and Wall Street Zen to "buy", leaving an average MarketBeat rating of "Buy" (two Strong Buy, one Hold).
• The company reported $1.11 EPS and $2.09 billion in revenue for the quarter; Advantest carries a market cap of $133.33 billion and a P/E of 66.24, with analysts forecasting ~3.05 EPS for the current year.

Advantest Corp. (OTCMKTS:ATEYY - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $196.00, but opened at $180.62. Advantest shares last traded at $182.1250, with a volume of 13,917 shares changing hands.

Analyst Ratings Changes

Several research firms have recently commented on ATEYY. Sanford C. Bernstein raised shares of Advantest from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Zacks Research upgraded Advantest from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded Advantest from a "hold" rating to a "buy" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Advantest presently has an average rating of "Buy".

Advantest Stock Performance

The firm's 50-day simple moving average is $159.57 and its 200 day simple moving average is $144.49. The company has a market cap of $133.33 billion, a P/E ratio of 66.24 and a beta of 2.10.

Advantest (OTCMKTS:ATEYY - Get Free Report) last issued its earnings results on Monday, April 27th. The company reported $1.11 EPS for the quarter. The business had revenue of $2.09 billion for the quarter. As a group, research analysts forecast that Advantest Corp. will post 3.05 earnings per share for the current year.

About Advantest

Advantest Corporation OTCMKTS: ATEYY is a Japan-headquartered company that specializes in the design, manufacture and sale of semiconductor test equipment and related measurement systems. Its core business is supplying automatic test equipment (ATE) and test solutions used by semiconductor manufacturers, fabless companies and outsourced test houses to validate integrated circuits, memory products, system-on-chip (SoC) devices and a broad range of analog, digital and mixed-signal components.

The company's product portfolio includes handlers and test systems for packaged devices and wafer-level test, testers for memory and logic devices, signal and measurement instruments, and test interface and support products.

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