Zacks Investment Research downgraded shares of Tokyo Electron (OTCMKTS:TOELY) from a buy rating to a hold rating in a report released on Friday morning. They currently have $52.00 price objective on the stock.
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 (TOELY) opened at $49.12 on Friday. Tokyo Electron has a 1 year low of $23.39 and a 1 year high of $52.64. The firm has a market cap of $32,229.37, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.15 and a beta of 1.27.
Tokyo Electron Limited, together with its subsidiaries, develops, manufactures, distributes, and sells semiconductor and flat panel display (FPD) production equipment in Japan, the United States, Europe, South Korea, Taiwan, China, and internationally. The companys Semiconductor Production Equipment segment offers coaters/developers, plasma etch systems, thermal processing systems, single wafer deposition systems, cleaning systems used in wafer processing, wafer probers used in wafer testing process, electrochemical deposition systems, wafer bonders/debonders, surface preparation systems, test systems, SIC epitaxial CVD systems, gas cluster ion beam systems, and packaging products.
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