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

SUMCO (OTCMKTS:SUOPY) gapped down before the market opened on Thursday. The stock had previously closed at $28.4105, but opened at $23.54. SUMCO shares last traded at $23.20, with a volume of 9,817 shares trading hands.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded shares of SUMCO to a “buy” rating in a 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

SUMCO Stock Performance

The company has a quick ratio of 1.53, a current ratio of 3.37 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average is $38.08 and its two-hundred day moving average is $36.15. The stock has a market cap of $3.91 billion, a P/E ratio of -21.72 and a beta of 1.63.

SUMCO (OTCMKTS:SUOPY) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter. SUMCO had a negative return on equity of 4.24% and a negative net margin of 6.60%. The company had revenue of $712.93 million for the quarter. As a group, research analysts expect 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.