Sumco (OTCMKTS:SUOPY) Rating Increased to Buy at Zacks Investment Research

Sumco (OTCMKTS:SUOPY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, reports. The firm presently has a $48.00 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.19% from the company’s previous close.

According to Zacks, “Sumco Corporation manufactures and sells silicon wafers for the semiconductor industry. It offers monocrystalline ingots, polished wafers, annealed wafers, epitaxial wafers, junction isolated wafers, silicon-on-insulator wafers, and reclaimed polished wafers. The company operates primarily in Japan, North America, Asia and Europe. Sumco Corporation is headquartered in Tokyo, Japan. “

OTCMKTS SUOPY opened at $43.17 on Friday. Sumco has a 1 year low of $27.40 and a 1 year high of $52.09. The company has a market capitalization of $6.26 billion, a PE ratio of 26.65 and a beta of 1.48. The company has a fifty day moving average of $45.24 and a two-hundred day moving average of $47.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.43 and a quick ratio of 1.68.

Sumco (OTCMKTS:SUOPY) last announced its earnings results on Thursday, August 5th. The company reported $0.57 earnings per share for the quarter. Sumco had a net margin of 8.27% and a return on equity of 6.93%. The business had revenue of $747.68 million during the quarter, compared to the consensus estimate of $700.91 million. On average, research analysts expect that Sumco will post 1.91 earnings per share for the current year.

About Sumco

SUMCO Corp. engages in the manufacture and sale of silicon wafers for semiconductor industry. Its silicon products range from single crystal silicon ingots to polished, epitaxial and silicon-on-insulator wafers. The company was founded on July 30, 1999 and is headquartered in Tokyo, Japan.

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