SUMCO (OTCMKTS:SUOPY) Shares Gap Up – Here’s Why

Shares of SUMCO (OTCMKTS:SUOPY) gapped up before the market opened on Thursday . The stock had previously closed at $19.49, but opened at $20.98. SUMCO shares last traded at $20.98, with a volume of 1,000 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Nomura Securities upgraded shares of SUMCO to a “strong-buy” rating in a report on Monday, September 29th. Sanford C. Bernstein upgraded shares of SUMCO from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

SUMCO Stock Performance

The stock has a market cap of $3.67 billion, a PE ratio of 232.78 and a beta of 1.07. The firm’s 50-day moving average is $17.36 and its 200 day moving average is $18.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 3.11.

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.