SUMCO (OTCMKTS:SUOPY) Shares Gap Down – Should You Sell?

Shares of SUMCO (OTCMKTS:SUOPY) gapped down before the market opened on Tuesday. The stock had previously closed at $33.02, but opened at $31.04. SUMCO shares last traded at $31.04, with a volume of 13,001 shares trading hands.

Wall Street Analysts Forecast Growth

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

SUMCO Price Performance

The firm has a 50 day moving average of $41.80 and a 200-day moving average of $42.26. The company has a market cap of $5.62 billion, a P/E ratio of -31.22 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.

SUMCO (OTCMKTS:SUOPY) last announced 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 for the quarter. On average, equities research analysts predict 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.