Advantest Corporation experienced a notable increase in its stock value prior to trading on Tuesday, March 15, 2024. The shares, which closed at $129.51 the previous day, opened at $137.77, reflecting a significant jump. As of the last trade, Advantest’s stock was at $137.00 with a trading volume of 12,023 shares.
Analysts Downgrade Ratings
Recent commentary from analysts has impacted perceptions of Advantest’s stock. On November 11, 2023, Zacks Research downgraded Advantest from a “strong-buy” rating to a “hold.” This change follows previous adjustments, including a downgrade from “buy” to “hold” by Wall Street Zen on November 1, 2023, and a shift from “buy” to “neutral” by The Goldman Sachs Group on October 8, 2023. Currently, three analysts classify the stock as a “hold,” resulting in an average rating of “hold” according to MarketBeat.
Quarterly Earnings Report
Advantest’s stock movement aligns with its recent earnings report, released on October 28, 2023. The company reported earnings of $0.74 per share and generated revenue of $1.78 billion for the quarter. Analysts predict that Advantest will post an earnings per share (EPS) of $1.61 for the current fiscal year.
Advantest, headquartered in Japan, specializes in the design, manufacture, and sale of semiconductor test equipment and related measurement systems. Its primary offerings include automatic test equipment (ATE) and test solutions vital for semiconductor manufacturers, fabless companies, and outsourced test houses. The company plays a crucial role in validating integrated circuits, memory products, and a wide array of analog, digital, and mixed-signal components.
Among Advantest’s product range are handlers and test systems for packaged devices, testers for memory and logic devices, as well as signal and measurement instruments. These products are essential in ensuring the quality and performance of semiconductor devices.
Investors and analysts alike will be watching closely to see how Advantest navigates these rating changes and its performance in the coming quarters.
