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

Key Points

• Advantest shares gapped up before the open Friday, jumping from a $178.00 close to an $187.29 open and last trading at $186.37 on about 2,936 shares.
• Analyst moves are mixed but positive overall: Zacks and Sanford C. Bernstein upgraded to Strong Buy, Wall Street Zen cut to Hold, leaving a MarketBeat consensus rating of Buy.
• The stock trades with a market cap of $137.85 billion and a P/E of 68.48 (50- and 200-day moving averages of $159.06 and $143.13); the company reported $0.70 EPS on $1.78 billion revenue for the quarter, and analysts expect ~3.05 EPS for the year.

Advantest Corp. (OTCMKTS:ATEYY - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $178.00, but opened at $187.29. Advantest shares last traded at $186.37, with a volume of 2,936 shares trading hands.

Analysts Set New Price Targets

ATEYY has been the topic of a number of recent analyst reports. Zacks Research raised Advantest from a "hold" rating to a "strong-buy" rating in a report on Monday, January 26th. Wall Street Zen cut Advantest from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Finally, Sanford C. Bernstein raised Advantest from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

Advantest Price Performance

The stock has a market cap of $137.85 billion, a P/E ratio of 68.48 and a beta of 2.10. The company has a fifty day moving average of $159.06 and a 200 day moving average of $143.13.

Advantest (OTCMKTS:ATEYY - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $0.70 EPS for the quarter. The firm had revenue of $1.78 billion for the quarter. As a group, analysts anticipate that Advantest Corp. will post 3.05 EPS for the current year.

Advantest Company Profile

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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