SUMCO (OTCMKTS:SUOPY) Shares Gap Up – Time to Buy?

SUMCO (OTCMKTS:SUOPY)’s share price gapped up prior to trading on Tuesday. The stock had previously closed at $29.14, but opened at $31.0915. SUMCO shares last traded at $31.20, with a volume of 2,472 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of SUMCO to a “buy” rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, SUMCO has a consensus rating of “Moderate Buy”.

SUMCO Price Performance

The business’s 50-day simple moving average is $40.24 and its two-hundred day simple moving average is $35.79. The stock has a market cap of $5.45 billion, a P/E ratio of -30.27 and a beta of 1.55. The company has a quick ratio of 1.53, a current ratio of 3.37 and a debt-to-equity ratio of 0.50.

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

SUMCO Company Profile

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.