Hoya (OTCMKTS:HOCPY) Sees Large Volume Increase - Still a Buy?

Key Points

• Hoya Corp. experienced a significant increase in trading volume, with 43,426 shares traded, representing a 27% rise from the previous session.
• Several analysts, including Erste Group Bank and Goldman Sachs, upgraded Hoya's rating to "strong-buy", indicating strong market confidence in the company's performance.
• Hoya reported earnings of $1.05 per share for the last quarter, surpassing expectations with a revenue of $1.53 billion, reflecting a solid financial performance.

Hoya Corp. (OTCMKTS:HOCPY - Get Free Report) shares saw strong trading volume on Wednesday . 43,426 shares were traded during trading, an increase of 27% from the previous session's volume of 34,253 shares.The stock last traded at $140.63 and had previously closed at $138.55.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Erste Group Bank raised Hoya from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Nomura Securities upgraded Hoya to a "strong-buy" rating in a research report on Monday, August 18th. Finally, The Goldman Sachs Group upgraded Hoya from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

Hoya Trading Up 1.2%

The firm has a market capitalization of $48.13 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 2.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.46 and a current ratio of 5.19. The firm has a 50 day moving average price of $127.59 and a two-hundred day moving average price of $120.40.

Hoya (OTCMKTS:HOCPY - Get Free Report) last issued its earnings results on Friday, August 1st. The technology company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. Hoya had a return on equity of 21.01% and a net margin of 23.57%.The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.47 billion. On average, equities research analysts expect that Hoya Corp. will post 3.66 EPS for the current fiscal year.

About Hoya

HOYA Corporation, a med-tech company, provides high-tech and medical products worldwide. It operates through three segments: Life Care, Telecommunication, and Other. The company offers life care products, including eyeglass and contact lenses; medical endoscopes; intraocular lenses; laparoscopic surgical instruments; automatic endoscope cleaning equipment; and other medical related products, such as prosthetic ceramic fillers and metallic implants for orthopedics.

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