Tokyo Electron (OTCMKTS:TOELY) Shares Gap Up After Strong Earnings

Shares of Tokyo Electron Ltd. (OTCMKTS:TOELY) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $150.00, but opened at $176.97. Tokyo Electron shares last traded at $173.94, with a volume of 288,113 shares trading hands.

The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. Tokyo Electron had a net margin of 23.40% and a return on equity of 22.98%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.67 billion.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Tokyo Electron from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 19th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Tokyo Electron Price Performance

The stock has a market cap of $158.91 billion, a price-to-earnings ratio of 41.10 and a beta of 1.88. The company’s fifty day simple moving average is $204.21 and its two-hundred day simple moving average is $160.77.

Tokyo Electron Company Profile

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.