SUMCO (OTCMKTS:SUOPY) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• SUMCO’s trading volume surged 313% to approximately 45,104 shares, while the stock rose 2.1% to $32.29.
• UBS upgraded SUMCO to a “Buy” rating; with one Buy and one Hold rating, the stock carries a consensus “Moderate Buy” designation.
• The company reported a quarterly loss of $0.16 per share on $712.93 million in revenue, alongside negative net margin and return on equity; analysts forecast a full-year loss of $0.62 per share.

SUMCO (OTCMKTS:SUOPY - Get Free Report) saw an uptick in trading volume on Wednesday. Approximately 45,104 shares changed hands during trading, an increase of 313% from the average daily volume of 10,920 shares. The stock last traded at $32.29 and had previously closed at $31.6350.

Analyst Ratings Changes

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 company. According to MarketBeat.com, SUMCO currently has an average rating of "Moderate Buy".

SUMCO Stock Up 2.1%

The business has a fifty day simple moving average of $39.83 and a 200 day simple moving average of $35.85. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of -31.34 and a beta of 1.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.37 and a quick ratio of 1.53.

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

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