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

SUMCO (OTCMKTS:SUOPY) shares gapped up before the market opened on Friday . The stock had previously closed at $21.22, but opened at $22.22. SUMCO shares last traded at $22.22, with a volume of 191 shares.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein upgraded shares of SUMCO from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, SUMCO has a consensus rating of “Buy”.

SUMCO Stock Performance

The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -46.56 and a beta of 1.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 3.11. The stock’s fifty day moving average is $20.47 and its two-hundred day moving average is $19.29.

SUMCO (OTCMKTS:SUOPY) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($0.40) earnings per share for the quarter. The firm had revenue of $683.19 million during the quarter. SUMCO had a negative net margin of 2.82% and a negative return on equity of 1.75%.

About SUMCO

SUMCO Corporation (OTCMKTS: SUOPY) is a premier global supplier of silicon wafers, a foundational material used in the fabrication of semiconductor devices. The company specializes in producing single-crystal silicon wafers in diameters ranging from 150 mm to 300 mm, serving high-performance applications in memory, logic, power devices and discrete components. In addition to its core wafer business, SUMCO offers epitaxial wafers and specialty silicon products designed to meet the exacting requirements of next-generation semiconductor nodes and power electronics.

Founded in 1975 as a spin-off from Mitsubishi Silicon, SUMCO has grown through strategic investments in research and development to advance wafer quality, diameter scaling and defect reduction.