SUMCO (OTCMKTS:SUOPY) Sees Strong Trading Volume – Here’s What Happened

Shares of SUMCO (OTCMKTS:SUOPY) saw unusually-strong trading volume on Wednesday. 45,104 shares traded hands during trading, an increase of 313% from the average daily volume of 10,920 shares. The stock last traded at $32.29 and had previously closed at $31.6350.

Analysts Set New Price Targets

Separately, UBS Group raised SUMCO to a “buy” rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

SUMCO Price 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 stock’s 50-day moving average is $39.28 and its two-hundred day moving average is $35.98.

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