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NITTO DENKO COR/ADR (OTCMKTS:NDEKY) Cut to “Hold” at Zacks Investment Research

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NITTO DENKO COR/ADR (OTCMKTS:NDEKY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Nitto Denko Corporation is a provider of electrical insulating materials such as double-coated tapes, sealing materials, masking tapes, surface protection materials and non-skid tapes in diverse segments of industry. Its products are designed to assure safety in offices and buildings, precision machinery, machinery & equipment used in production process, and actual work sites. The Company’s technologies and products include reinforcing, vibration-damping and sealing materials. It supplies a whole variety of adhesive tapes in medical and athletic areas. Nitto Denko Group has an extensive lineup of electronics-related products such as optical films, flexible printed circuits, thin-film metal circuit boards and semiconductor encapsulating resins which are applied to various devices including wide-screen LCD TVs, personal computers, cell phones, handheld game consoles, portable audio players, hard disk drives and so on. Nitto Denko Corporation is headquartered in Osaka, Japan. “

Separately, Jefferies Financial Group cut NITTO DENKO COR/ADR from a “buy” rating to a “hold” rating in a research note on Monday, July 29th.

Shares of NDEKY stock opened at $27.44 on Friday. The company has a market cap of $8.68 billion, a P/E ratio of 14.37 and a beta of 1.47. The stock has a 50 day simple moving average of $25.25 and a two-hundred day simple moving average of $24.31. NITTO DENKO COR/ADR has a fifty-two week low of $21.38 and a fifty-two week high of $28.68.

NITTO DENKO COR/ADR Company Profile

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan and internationally. It provides double sided tapes, surface protective films, sealing materials/NVH related products, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.

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