SUMCO (OTCMKTS:SUOPY) Shares Down 9.6% – Here’s What Happened

Shares of SUMCO (OTCMKTS:SUOPY) dropped 9.6% on Monday. The stock traded as low as $28.8350 and last traded at $28.8350. 586 shares changed hands during trading, a decline of 95% from the average daily volume of 11,256 shares. The stock had previously closed at $31.90.

Analyst Upgrades and Downgrades

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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

SUMCO Price Performance

The business’s 50-day simple moving average is $38.98 and its 200 day simple moving average is $36.03. The company has a market capitalization of $5.06 billion, a P/E ratio of -28.07 and a beta of 1.63. The company has a current ratio of 3.37, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50.

SUMCO (OTCMKTS:SUOPY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter. SUMCO had a negative net margin of 6.60% and a negative return on equity of 4.24%. The company had revenue of $712.93 million during the quarter. As a group, sell-side analysts anticipate that SUMCO will post -0.62 EPS 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.