Short Interest in Advantest Corp. (OTCMKTS:ATEYY) Expands By 232.8%

Key Points

• Advantest’s short interest surged 232.8% to 82,741 shares as of July 31, up from 24,861 shares on July 15. Despite the increase, short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.4.
• Shares opened at $222.78, near the company’s 52-week high of $225.00, giving Advantest a market capitalization of $163.07 billion and a P/E ratio of 54.87.
• Advantest reported quarterly EPS of $1.51 on $2.31 billion in revenue, while analysts maintain a consensus “Buy” rating after several recent upgrades to “Strong Buy.”

Advantest Corp. (OTCMKTS:ATEYY - Get Free Report) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 82,741 shares, an increase of 232.8% from the July 15th total of 24,861 shares. Based on an average trading volume of 222,372 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the shares of the stock are sold short.

Advantest Stock Performance

Shares of OTCMKTS ATEYY opened at $222.78 on Thursday. The firm has a market cap of $163.07 billion, a P/E ratio of 54.87 and a beta of 2.11. Advantest has a 1 year low of $69.87 and a 1 year high of $225.00. The firm's 50 day moving average price is $186.35 and its 200 day moving average price is $173.11.

Advantest (OTCMKTS:ATEYY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.51 earnings per share (EPS) for the quarter. The business had revenue of $2.31 billion for the quarter. Advantest had a return on equity of 64.33% and a net margin of 37.15%. As a group, equities analysts predict that Advantest will post 4.95 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen raised Advantest from a "hold" rating to a "buy" rating in a research note on Monday, April 27th. Zacks Research raised shares of Advantest from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 17th. Finally, Sanford C. Bernstein upgraded shares of Advantest from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

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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