SUMCO (OTCMKTS:SUOPY) Sees Unusually-High Trading Volume – Still a Buy?

SUMCO (OTCMKTS:SUOPY) shares saw an uptick in trading volume on Wednesday. 26,696 shares were traded during trading, an increase of 122% from the average daily volume of 12,012 shares. The stock last traded at $28.54 and had previously closed at $28.19.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised SUMCO to a “buy” rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

SUMCO Trading Down 0.4%

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 simple moving average is $38.40 and its two-hundred day simple moving average is $36.11. The stock has a market cap of $4.95 billion, a P/E ratio of -27.47 and a beta of 1.63.

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