Zacks Investment Research Upgrades Tokyo Electron (OTCMKTS:TOELY) to “Buy”

Tokyo Electron (OTCMKTS:TOELYGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $128.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 12.35% from the company’s previous close.

According to Zacks, “Tokyo Electron Limited (TEL) is a company mainly engaged in the manufacture and sale of electronic products for industrial uses. TEL is the largest manufacturer of IC and FPD production equipment in Japan and the third largest in the world. The Semiconductor Manufacturing Equipment segment is engaged in the provision of coaters and developers for wafer processing, plasma etching equipment, thermal processing systems and others. The Flat-panel Display (FPD) Manufacturing Equipment segment is engaged in the provision of coaters and developers for FPD manufacturing, plasma etching/ashing apparatus and others. The Electronic Component and Information Communication Equipment segment provides semiconductor products such as integrated circuits (ICs), computer and network equipment and software. In addition, the Company is also involved in logistics, facility management and insurance businesses. “

Tokyo Electron stock opened at $113.93 on Wednesday. The company has a market capitalization of $71.64 billion, a P/E ratio of 22.51 and a beta of 1.22. The firm has a 50 day moving average price of $114.16 and a 200-day moving average price of $124.17. Tokyo Electron has a twelve month low of $96.86 and a twelve month high of $149.47.

About Tokyo Electron (Get Rating)

Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, and sells semiconductor and flat panel display (FPD) production equipment in Japan, Europe, North America, Taiwan, China, South Korea, and internationally. The company's Semiconductor Production Equipment segment offers coaters/developers, etch systems, deposition systems, and cleaning systems used in wafer processing; wafer probers used in wafer testing process; and wafer bonders/debonders.

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