Advantest (OTCMKTS:ATEYY) Shares Gap Up – Here’s Why

Advantest Corp. (OTCMKTS:ATEYY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $162.24, but opened at $181.19. Advantest shares last traded at $190.00, with a volume of 33,665 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Advantest from a “hold” rating to a “strong-buy” rating in a research report on Monday. The Goldman Sachs Group lowered Advantest from a “buy” rating to a “neutral” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Advantest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Advantest currently has a consensus rating of “Moderate Buy”.

Advantest Stock Up 17.9%

The stock has a market cap of $141.19 billion, a P/E ratio of 77.76 and a beta of 1.99. The firm has a 50 day moving average price of $132.31 and a 200 day moving average price of $109.51.

Advantest (OTCMKTS:ATEYY) last released its earnings results on Wednesday, January 28th. The company reported $0.70 EPS for the quarter. Equities analysts predict that Advantest Corp. will post 1.61 earnings per share for the current fiscal year.

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.