SUMCO (OTCMKTS:SUOPY) Sees Large Volume Increase – Here’s What Happened

SUMCO (OTCMKTS:SUOPY) saw strong trading volume on Wednesday. Approximately 26,696 shares traded hands during mid-day 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.

Analysts Set New Price Targets

Separately, UBS Group raised 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 given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

SUMCO Price Performance

The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -22.58 and a beta of 1.63. The company has a current ratio of 3.37, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $37.66 and a 200 day simple moving average of $36.15.

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