SUMCO (OTCMKTS:SUOPY) Shares Gap Down – Should You Sell?

SUMCO (OTCMKTS:SUOPY)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $33.02, but opened at $31.04. SUMCO shares last traded at $31.04, with a volume of 13,001 shares traded.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded SUMCO to a “buy” rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, SUMCO presently has a consensus rating of “Moderate Buy”.

SUMCO Price Performance

The firm has a market capitalization of $5.62 billion, a P/E ratio of -31.22 and a beta of 1.55. The company has a current ratio of 3.37, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $41.80 and a 200-day moving average price of $42.26.

SUMCO (OTCMKTS:SUOPY) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $712.93 million for the quarter. SUMCO had a negative net margin of 6.60% and a negative return on equity of 4.24%. On average, analysts expect that SUMCO will post -0.62 earnings per share for the current year.

About SUMCO

SUMCO Corporation is a Japan-based manufacturer of silicon wafers used in the production of semiconductor devices. The company supplies polished, epitaxial, annealed and other types of silicon wafers, with products primarily based on 300-millimeter, 200-millimeter and 150-millimeter wafer technologies.

Its wafers are used by semiconductor manufacturers to produce integrated circuits, memory chips, microprocessors, power semiconductors and other electronic components. SUMCO serves customers throughout the global semiconductor industry and operates manufacturing and sales activities in Japan and other major semiconductor markets, including Asia, North America and Europe.

SUMCO was established in 1999 as Silicon United Manufacturing Corporation through a joint venture involving Sumitomo Metal Industries and Mitsubishi Materials Corporation.