ASM International (OTCMKTS:ASMIY) Downgraded by Zacks Investment Research

ASM International (OTCMKTS:ASMIY – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “ASM International is a leading supplier of equipment and solutions used to produce semiconductor devices, or integrated circuits, for both the front-end and back-end segments of the semiconductor market. The company enables the customers to lower their production costs by providing leading-edge technology solutions and efficient manufacturing processes. The company also designs, manufactures and sells equipment that deposits thin films, or layers, of electronically insulating or conductive material onto silicon wafers. “

Several other equities analysts also recently commented on the company. Barclays upgraded ASM International from an “equal weight” rating to an “overweight” rating and set a $425.00 price objective on the stock in a research report on Tuesday, April 12th. JPMorgan Chase & Co. dropped their price target on ASM International from €438.00 ($470.97) to €379.00 ($407.53) in a research note on Thursday, February 24th. Deutsche Bank Aktiengesellschaft decreased their target price on ASM International from €440.00 ($473.12) to €350.00 ($376.34) and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Jefferies Financial Group began coverage on ASM International in a research note on Thursday, February 17th. They issued a “buy” rating on the stock. Finally, Credit Suisse Group initiated coverage on ASM International in a research report on Thursday, January 13th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, ASM International currently has an average rating of “Buy” and an average target price of $384.67.

Shares of OTCMKTS:ASMIY traded up $2.00 during mid-day trading on Tuesday, reaching $322.00. 27,079 shares of the company traded hands, compared to its average volume of 8,684. ASM International has a 52 week low of $273.01 and a 52 week high of $497.06. The firm has a market cap of $15.63 billion, a PE ratio of 29.06 and a beta of 1.51. The company’s 50 day moving average price is $332.98 and its 200-day moving average price is $387.48.

ASM International (OTCMKTS:ASMIY – Get Rating) last posted its quarterly earnings results on Monday, February 21st. The company reported $2.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.31. ASM International had a net margin of 27.73% and a return on equity of 22.65%. On average, analysts forecast that ASM International will post 14.89 EPS for the current year.

About ASM International (Get Rating)

ASM International NV, together with its subsidiaries, engages in the research, development, manufacture, marketing, and servicing of equipment and materials that are used to produce semiconductor devices in the United States, Europe, and Asia. Its products include wafer processing deposition systems for single-wafer atomic layer deposition, plasma enhanced chemical vapor deposition, epitaxy, and batch diffusion/furnace systems, as well as provides spare parts and support services.

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