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

SUMCO (OTCMKTS:SUOPY)’s share price gapped down prior to trading 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.

Analyst Ratings Changes

Separately, UBS Group raised shares of 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

SUMCO Stock Performance

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 firm’s fifty day moving average price is $39.28 and its 200-day moving average price is $35.98. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of -27.83 and a beta of 1.55.

SUMCO (OTCMKTS:SUOPY) last announced its earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter. SUMCO had a negative net margin of 6.60% and a negative return on equity of 4.24%. The business had revenue of $712.93 million during the quarter. Analysts expect that SUMCO will post -0.62 earnings per share for the current year.

SUMCO Company Profile

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.