Tokyo Electron (OTCMKTS:TOELY) Trading Up 15.3% After Earnings Beat

Tokyo Electron Ltd. (OTCMKTS:TOELY) shares were up 15.3% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $173.88 and last traded at $173.00. 46,952 shares were traded during trading, a decline of 81% from the average session volume of 243,847 shares. The stock had previously closed at $150.00.

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 return on equity of 22.98% and a net margin of 23.40%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Tokyo Electron from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 19th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Tokyo Electron Stock Up 16.0%

The business’s fifty day moving average is $203.85 and its two-hundred day moving average is $160.45. The stock has a market capitalization of $162.92 billion, a PE ratio of 42.14 and a beta of 1.88.

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.