TDK Corp. (OTCMKTS:TTDKY) Shares Shorted: Short Interest Down 36.4% in October

Key Points

• TDK’s short interest fell 36.4% in October to 20,666 shares, representing about 0.0% of shares outstanding and just 0.1 days to cover.
• Zacks Research upgraded TDK from “hold” to “strong buy,” and the two analysts covering the stock now give it a consensus “strong buy” rating.
• TDK exceeded quarterly expectations, reporting $0.32 EPS versus the $0.27 estimate and $5.19 billion in revenue versus the $5.11 billion consensus.

TDK Corp. (OTCMKTS:TTDKY - Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 20,666 shares, a drop of 36.4% from the September 30th total of 32,474 shares. Based on an average trading volume of 221,927 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's shares are short sold.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of TDK from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating. According to MarketBeat, the company currently has a consensus rating of "Strong Buy".

TDK Price Performance

TDK stock opened at $16.64 on Monday. TDK has a twelve month low of $11.91 and a twelve month high of $26.73. The firm has a 50 day moving average price of $18.86 and a 200-day moving average price of $17.88. The company has a market capitalization of $32.35 billion, a P/E ratio of 22.19, a P/E/G ratio of 0.86 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.47 and a debt-to-equity ratio of 0.15.

TDK (OTCMKTS:TTDKY - Get Free Report) last announced its earnings results on Friday, October 30th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.11 billion. TDK had a net margin of 8.27% and a return on equity of 9.86%. As a group, equities analysts predict that TDK will post 0.91 EPS for the current year.

About TDK

TDK Corporation is a Japanese electronics company that develops and manufactures electronic components, materials and systems for consumer electronics, automotive, communications, industrial and energy-related applications. The company's products include passive components such as capacitors and inductors, magnetic materials and components, sensors, power supplies, electronic modules and rechargeable batteries.

TDK is also active in energy storage through its lithium-ion and other battery technologies, which are used in mobile devices, electric vehicles, industrial equipment and energy-storage applications.

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