SUMCO (OTCMKTS:SUOPY) Shares Gap Up – Still a Buy?

SUMCO (OTCMKTS:SUOPY) gapped up prior to trading on Wednesday . The stock had previously closed at $19.39, but opened at $20.66. SUMCO shares last traded at $19.6450, with a volume of 1,717 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SUOPY. Sanford C. Bernstein upgraded SUMCO from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Nomura Securities raised SUMCO to a “strong-buy” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

SUMCO Stock Performance

The firm’s 50 day moving average is $17.54 and its 200-day moving average is $17.82. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 218.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 3.11.

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.