Tokyo Electron (OTCMKTS:TOELY) Shares Gap Down - What's Next?

Key Points

• Tokyo Electron shares fell sharply: The stock opened at $173.83 versus a prior close of $188.85 and last traded at $172.69, down 10.2%. Its market capitalization is approximately $158.78 billion.
• Analyst sentiment remains positive: Zacks Research upgraded the stock from “hold” to “strong buy,” and MarketBeat reports a consensus “strong buy” rating from analysts.
• Recent results were mixed but profitable: Tokyo Electron reported quarterly earnings of $1.13 per share, beating estimates, while revenue of $4.60 billion fell short of forecasts. Madison Asset Management increased its position by 13.7% in the second quarter.

Tokyo Electron Ltd. (OTCMKTS:TOELY - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $188.85, but opened at $173.83. Tokyo Electron shares last traded at $172.69, with a volume of 13,279 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research upgraded Tokyo Electron from a "hold" rating to a "strong-buy" rating in a report on Friday, June 19th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy".

Tokyo Electron Stock Down 10.2%

The company has a market capitalization of $158.78 billion, a PE ratio of 38.82 and a beta of 1.92. The business's 50 day simple moving average is $206.04 and its 200 day simple moving average is $164.80.

Tokyo Electron (OTCMKTS:TOELY - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. Tokyo Electron had a net margin of 23.58% and a return on equity of 24.61%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.67 billion. On average, analysts anticipate that Tokyo Electron Ltd. will post 5.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tokyo Electron

A hedge fund recently raised its position in Tokyo Electron stock. Madison Asset Management LLC boosted its position in shares of Tokyo Electron Ltd. (OTCMKTS:TOELY - Free Report) by 13.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,759 shares of the company's stock after purchasing an additional 1,775 shares during the period. Madison Asset Management LLC's holdings in Tokyo Electron were worth $3,587,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.27% of the company's stock.

About Tokyo Electron

Tokyo Electron OTCMKTS: TOELY is a Japan-based manufacturer of equipment and services for the semiconductor and flat-panel display industries. The company develops, produces and sells a broad range of wafer fabrication tools used across front-end and back-end semiconductor processes, including equipment for etch, deposition, thermal processing, wafer cleaning and inspection, as well as production systems for advanced packaging and assembly. In addition to semiconductor tools, Tokyo Electron supplies production equipment and process solutions for flat-panel displays and related display technologies.

Beyond capital equipment, Tokyo Electron provides lifecycle services such as installation, maintenance, spare parts, process support and software solutions aimed at maximizing tool uptime and process yield.

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