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

SUMCO (OTCMKTS:SUOPY)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $21.8620, but opened at $23.43. SUMCO shares last traded at $23.23, with a volume of 7,596 shares traded.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded SUMCO to a “buy” rating in a research report 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

SUMCO Trading Down 2.3%

The company has a debt-to-equity ratio of 0.50, a current ratio of 3.37 and a quick ratio of 1.53. The firm has a 50-day moving average price of $36.49 and a two-hundred day moving average price of $36.20.

SUMCO (OTCMKTS:SUOPY) last released its earnings results on Wednesday, November 11th. The company reported ($0.16) earnings per share (EPS) for the quarter. SUMCO had a negative return on equity of 4.24% and a negative net margin of 6.60%. On average, research analysts predict that SUMCO will post -0.62 earnings per share for the current fiscal year.

About SUMCO

SUMCO Corporation is a Japan-based manufacturer of silicon wafers, the foundational materials used to produce semiconductor devices. Its products include polished and epitaxial wafers supplied to semiconductor manufacturers for use in a range of applications. The company was established in 1999 as Sumitomo Mitsubishi Silicon Corporation through the combination of silicon wafer businesses associated with Sumitomo Metal Industries and Mitsubishi Materials. It adopted the SUMCO name in 2002. Headquartered in Japan, SUMCO serves semiconductor manufacturers around the world.