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

Shares of SUMCO (OTCMKTS:SUOPY) gapped up before the market opened on Wednesday. The stock had previously closed at $39.19, but opened at $42.70. SUMCO shares last traded at $42.6250, with a volume of 3,036 shares traded.

Analysts Set New Price Targets

Separately, UBS Group raised SUMCO to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

SUMCO Stock Up 4.7%

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 market cap of $7.43 billion, a price-to-earnings ratio of -41.27 and a beta of 1.56. The firm’s 50 day simple moving average is $42.25 and its two-hundred day simple moving average is $40.28.

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

About SUMCO

SUMCO Corporation is a Japan-based manufacturer of semiconductor silicon wafers, which serve as the foundational substrates for producing integrated circuits and other semiconductor devices. The company supplies wafer products to semiconductor manufacturers and supports applications across computing, communications, consumer electronics, automotive systems and industrial equipment.

Its product portfolio includes polished silicon wafers, epitaxial wafers and other specialty wafer products, with manufacturing capabilities covering commonly used wafer diameters such as 200 millimeters and 300 millimeters.