SUMCO (OTCMKTS:SUOPY) Shares Gap Down - Here's What Happened

Key Points

• SUMCO's shares experienced a gap down at market opening, dropping from a previous close of $21.70 to open at $20.92.
• Nomura Securities has upgraded SUMCO to a "strong-buy" rating, reflecting positive sentiment as one analyst supports this view.
• The company has a market cap of $3.66 billion with key financial metrics including a P/E ratio of 53.64 and strong liquidity ratios.

SUMCO (OTCMKTS:SUOPY - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $21.70, but opened at $20.92. SUMCO shares last traded at $20.92, with a volume of 1,260 shares changing hands.

Analysts Set New Price Targets

Separately, Nomura Securities upgraded shares of SUMCO to a "strong-buy" rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, SUMCO presently has a consensus rating of "Strong Buy".

SUMCO Price Performance

The firm's fifty day simple moving average is $18.03 and its 200 day simple moving average is $15.45. The firm has a market cap of $3.66 billion, a P/E ratio of 53.64 and a beta of 1.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.28 and a current ratio of 2.97.

About SUMCO

Sumco Corporation manufactures and sells silicon wafers for the semiconductor industry in Japan, the United States, China, Taiwan, Korea, and internationally. It provides monocrystalline ingots, as well as polished, annealed, epitaxial, junction isolated, silicon-on-insulator, and reclaimed polished wafers.

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