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

SUMCO (OTCMKTS:SUOPY)’s share price gapped down before the market opened on Friday. The stock had previously closed at $32.37, but opened at $29.25. SUMCO shares last traded at $29.00, with a volume of 756 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised shares of SUMCO to a “buy” rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

SUMCO Stock Down 10.1%

The company’s 50-day moving average is $39.28 and its 200 day moving average is $35.98. The company has a current ratio of 3.37, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $5.01 billion, a PE ratio of -27.83 and a beta of 1.55.

SUMCO (OTCMKTS:SUOPY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) earnings per share 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 during the quarter. As a group, 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.