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

Shares of SUMCO (OTCMKTS:SUOPY) gapped up before the market opened 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.

Analyst Ratings Changes

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

SUMCO Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.53 and a current ratio of 3.37. The business has a 50 day moving average price of $39.54 and a two-hundred day moving average price of $35.92. The company has a market cap of $5.66 billion, a P/E ratio of -31.43 and a beta of 1.55.

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