Tokyo Electron (OTCMKTS:TOELY) Stock Price Down 7.6% – Here’s What Happened

Tokyo Electron Ltd. (OTCMKTS:TOELY) shares were down 7.6% on Friday . The company traded as low as $195.00 and last traded at $195.5180. Approximately 232,347 shares traded hands during trading, a decline of 5% from the average session volume of 245,019 shares. The stock had previously closed at $211.53.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of 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, According to MarketBeat, the company presently has an average rating of “Strong Buy”.

Tokyo Electron Price Performance

The stock has a fifty day moving average of $199.31 and a 200 day moving average of $156.05. The firm has a market capitalization of $189.97 billion, a P/E ratio of 49.14 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.