SUMCO (OTCMKTS:SUOPY) Sees Unusually-High Trading Volume – Still a Buy?

SUMCO (OTCMKTS:SUOPY) shares saw unusually-strong trading volume on Wednesday. Approximately 26,696 shares changed hands during trading, an increase of 122% from the average daily volume of 12,012 shares. The stock last traded at $28.54 and had previously closed at $28.19.

Wall Street Analyst Weigh In

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

SUMCO Trading Down 0.4%

The firm has a market capitalization of $4.95 billion, a P/E ratio of -27.47 and a beta of 1.63. The business’s 50 day moving average is $38.40 and its two-hundred day moving average is $36.11. 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 announced its earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter. The company had revenue of $712.93 million during the quarter. SUMCO had a negative net margin of 6.60% and a negative return on equity of 4.24%. Analysts expect that SUMCO will post -0.62 EPS 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.