Advantest (OTCMKTS:ATEYY) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up premarket, opening at $169.00 after a prior close of $141.34; the stock last traded at $161.74 on a volume of 21,723 shares.
• Zacks Research upgraded Advantest to a "strong-buy," contributing to an overall average rating of "Buy" (one Strong Buy, one Hold).
• Advantest has a market capitalization of $116.71 billion and a P/E of 57.98; it reported Q4 EPS of $0.70 on $1.78 billion in revenue and analysts forecast about $1.61 EPS for the year.

Advantest Corp. (OTCMKTS:ATEYY - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $141.34, but opened at $169.00. Advantest shares last traded at $161.74, with a volume of 21,723 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research raised Advantest from a "hold" rating to a "strong-buy" rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

Advantest Price Performance

The company has a market capitalization of $116.71 billion, a price-to-earnings ratio of 57.98 and a beta of 2.10. The business has a fifty day moving average price of $159.22 and a 200 day moving average price of $137.99.

Advantest (OTCMKTS:ATEYY - Get Free Report) last released its earnings results on Wednesday, January 28th. The company reported $0.70 earnings per share (EPS) for the quarter. The firm had revenue of $1.78 billion for the quarter. Research analysts anticipate that Advantest Corp. will post 1.61 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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