Short Interest in Advantest Co. (OTCMKTS:ATEYY) Declines By 98.2%

Advantest Co. (OTCMKTS:ATEYY) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,600 shares, a decline of 98.2% from the September 30th total of 89,500 shares. Based on an average trading volume of 142,100 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upgraded shares of Advantest to a “strong-buy” rating in a research note on Monday, October 7th.

Advantest Price Performance

Shares of ATEYY stock opened at $51.52 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.33 and a quick ratio of 1.71. The stock’s fifty day simple moving average is $46.92 and its 200 day simple moving average is $40.58. Advantest has a one year low of $23.48 and a one year high of $55.00. The firm has a market cap of $38.02 billion, a price-to-earnings ratio of 88.83 and a beta of 1.48.

Advantest (OTCMKTS:ATEYY) last posted its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter. Advantest had a net margin of 14.65% and a return on equity of 18.20%. The business had revenue of $889.88 million for the quarter, compared to analyst estimates of $680.79 million. On average, analysts expect that Advantest will post 0.8 earnings per share for the current fiscal year.

Advantest Company Profile

Advantest Corporation manufactures and sells semiconductors, component test system products, and mechatronics related products in Japan, the Americas, Europe, and Asia. The company operates through three segments: Semiconductor and Component Test System; Mechatronics Related Business; and Services, Support and Others.