Tokyo Electron (OTCMKTS:TOELY) Stock Passes Below 50 Day Moving Average - Here's Why

Tokyo Electron Ltd. (OTCMKTS:TOELY - Get Free Report) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $188.70 and traded as low as $176.08. Tokyo Electron shares last traded at $177.27, with a volume of 146,280 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of Tokyo Electron from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold".

Tokyo Electron Trading Up 0.4%

The company has a market capitalization of $165.94 billion, a P/E ratio of 40.57 and a beta of 1.92. The company has a 50 day moving average price of $188.70 and a 200 day moving average price of $169.07.

Tokyo Electron (OTCMKTS:TOELY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. Tokyo Electron had a return on equity of 24.38% and a net margin of 23.58%.The business had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $4.67 billion. As a group, sell-side analysts forecast that Tokyo Electron Ltd. will post 5.18 EPS for the current fiscal year.

Institutional Trading of Tokyo Electron

A hedge fund recently raised its stake in Tokyo Electron stock. Madison Asset Management LLC lifted its stake in shares of Tokyo Electron Ltd. (OTCMKTS:TOELY - Free Report) by 13.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,759 shares of the company's stock after buying an additional 1,775 shares during the quarter. Madison Asset Management LLC's holdings in Tokyo Electron were worth $3,587,000 as of its most recent SEC filing. 1.27% of the stock is currently owned by institutional investors.

About Tokyo Electron

Tokyo Electron Limited is a Japanese manufacturer of semiconductor production equipment. The company supplies tools used throughout the wafer-fabrication process, including coater/developers for lithography, plasma etch systems, deposition equipment, wafer-cleaning systems, thermal processing equipment and wafer-probing systems.

Tokyo Electron also develops equipment used to manufacture flat-panel displays, including systems for coating, developing and etching display substrates. Its products are sold to semiconductor and display manufacturers worldwide, with operations, service capabilities and customer support across Japan, North America, Europe and Asia.

Founded in 1963 and headquartered in Tokyo, Tokyo Electron has expanded from a trading and technology-services business into one of the world's leading suppliers of semiconductor manufacturing equipment.

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