SUMCO (OTCMKTS:SUOPY) Shares Gap Up Following Analyst Upgrade

SUMCO (OTCMKTS:SUOPY) gapped up prior to trading on Monday after Sanford C. Bernstein upgraded the stock from a strong sell rating to a hold rating. The stock had previously closed at $16.0150, but opened at $16.92. SUMCO shares last traded at $16.92, with a volume of 108 shares traded.

Separately, Nomura Securities upgraded SUMCO to a “strong-buy” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy”.

SUMCO Stock Up 5.7%

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.97 and a quick ratio of 1.28. The firm’s 50-day moving average price is $20.43 and its 200 day moving average price is $16.97. The firm has a market cap of $2.96 billion, a P/E ratio of 188.00 and a beta of 1.23.

About SUMCO

Sumco Corporation manufactures and sells silicon wafers for the semiconductor industry in Japan, the United States, China, Taiwan, Korea, and internationally. It provides monocrystalline ingots, as well as polished, annealed, epitaxial, junction isolated, silicon-on-insulator, and reclaimed polished wafers.