SUMCO (OTCMKTS:SUOPY) Sees Unusually-High Trading Volume – Should You Buy?

SUMCO (OTCMKTS:SUOPY) shares saw unusually-strong trading volume on Wednesday. Approximately 28,870 shares changed hands during mid-day trading, an increase of 181% from the previous session’s volume of 10,257 shares. The stock last traded at $32.61 and had previously closed at $33.62.

Analysts Set New Price Targets

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

SUMCO Stock Performance

The stock’s 50-day moving average price is $41.56 and its 200-day moving average price is $42.33. The company has a market cap of $5.82 billion, a P/E ratio of -32.32 and a beta of 1.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.37 and a quick ratio of 1.53.

SUMCO (OTCMKTS:SUOPY) last released 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 business had revenue of $712.93 million for the quarter. Equities analysts anticipate 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.