SUMCO (OTCMKTS:SUOPY) Shares Gap Down – Time to Sell?

SUMCO (OTCMKTS:SUOPY) gapped down prior to trading on Wednesday. The stock had previously closed at $42.6548, but opened at $40.40. SUMCO shares last traded at $40.40, with a volume of 275 shares changing hands.

Analysts Set New Price Targets

Separately, UBS Group raised 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

SUMCO Trading Up 0.7%

The company has a market cap of $7.02 billion, a P/E ratio of -38.96 and a beta of 1.55. 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 business has a 50 day moving average price of $42.57 and a 200-day moving average price of $41.91.

SUMCO (OTCMKTS:SUOPY) last released its earnings results 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 firm had revenue of $712.93 million during the quarter. Analysts forecast that SUMCO will post -0.62 earnings per share for the current fiscal year.

About SUMCO

SUMCO Corporation is a Japan-based manufacturer of semiconductor silicon wafers, which serve as the foundational substrates for producing integrated circuits and other semiconductor devices. The company supplies wafer products to semiconductor manufacturers and supports applications across computing, communications, consumer electronics, automotive systems and industrial equipment.

Its product portfolio includes polished silicon wafers, epitaxial wafers and other specialty wafer products, with manufacturing capabilities covering commonly used wafer diameters such as 200 millimeters and 300 millimeters.