HOYA (JP: 7741) got beat up again, -3.77% to ¥3,830 (down over 7% in two sessions). It is nearing a calendar year low, set March 19 at ¥3,810. Not necessarily a rush to get in here, but arguably becoming an attractive buying opportunity — either look at buying as a trade and/or build (add) a position using the good ol’ buy-on-a-dip strategy. Long-term there don’t appear to be any issues.

By the way, Deutsche Bank Securities (Japan) downgraded it to “hold” from “buy” with a downward revised target of ¥4,350, from ¥5,350 previously. Whoops! Mizuho did a number, make that two, taking it to a “3″ from a “1.” Goldman appears to have come out with a note too, but don’t know the details yet. HOYA now has a trailing P/E ratio (for the past fiscal year ended in March) under 20, at 19.79 as of yesterday’s close. It was in a similar position in 2005, when it went on to gain about 60% in a year.