SUMCO (OTCMKTS:SUOPY) Shares Gap Up – Should You Buy?

SUMCO (OTCMKTS:SUOPY) gapped up before the market opened on Wednesday . The stock had previously closed at $16.6150, but opened at $17.75. SUMCO shares last traded at $17.75, with a volume of 1,500 shares traded.

Wall Street Analysts Forecast Growth

SUOPY has been the topic of several recent analyst reports. Nomura Securities upgraded shares of SUMCO to a “strong-buy” rating in a research note on Monday, September 29th. Sanford C. Bernstein upgraded SUMCO from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, SUMCO currently has a consensus rating of “Buy”.

SUMCO Stock Performance

The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 197.22 and a beta of 1.07. The company’s fifty day simple moving average is $18.41 and its 200 day simple moving average is $17.53. The company has a quick ratio of 1.29, a current ratio of 3.11 and a debt-to-equity ratio of 0.50.

About SUMCO

SUMCO Corporation (OTCMKTS: SUOPY) is a premier global supplier of silicon wafers, a foundational material used in the fabrication of semiconductor devices. The company specializes in producing single-crystal silicon wafers in diameters ranging from 150 mm to 300 mm, serving high-performance applications in memory, logic, power devices and discrete components. In addition to its core wafer business, SUMCO offers epitaxial wafers and specialty silicon products designed to meet the exacting requirements of next-generation semiconductor nodes and power electronics.

Founded in 1975 as a spin-off from Mitsubishi Silicon, SUMCO has grown through strategic investments in research and development to advance wafer quality, diameter scaling and defect reduction.