Tokyo Electron Set for Monster Fourth Quarter; Though Longer-Term Growth May Be More Challenging
Tokyo Electron Ltd. reported fiscal third-quarter results in line with our expectations, led by strong demand from memory chipmakers for TEL’s etch and deposition equipment. We note TEL has benefited from the ongoing transition from planar NAND to 3D NAND, just as Lam Research and Applied Materials have. Management reiterated its fiscal 2018 guidance for top-line growth of 41.3%, which implies a stellar fourth quarter. Persistent demand across leading logic, foundry, and memory customers and sim...Tokyo Electron is a supplier of semiconductor production equipment ("SPE") and flat panel display ("FPD") selling through global network that spans Japan, the U.S., Europe and Asia. Co.'s principal products are coater/developers, plasma etch systems, thermal processing systems, single wafer deposition systems, cleaning systems (auto wet station, single wafer cleaning system, pre-clean system and scrubber system), wafer prober, FPD coater/developers and FPD plasma etch/ash systems. In addition, Co., through its subsidiaries, is engaged in the provision of transportation services, insurance services, as well as the support services for Co.'s photovoltaic cell ("PV") production equipment.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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