SUMCO (OTCMKTS:SUOPY) Shares Gap Down - What's Next?

Key Points

• SUMCO shares gapped down significantly, opening at $21.77 after closing at $23.30, resulting in a 6.1% decline.
• Nomura Securities upgraded SUMCO to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" for the stock.
• The company has a market cap of $3.76 billion and a price-to-earnings ratio of 55.13, indicating high valuation in the semiconductor sector.

Shares of SUMCO (OTCMKTS:SUOPY - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $23.30, but opened at $21.77. SUMCO shares last traded at $21.77, with a volume of 190 shares changing hands.

Analysts Set New Price Targets

Separately, Nomura Securities raised shares of SUMCO to a "strong-buy" rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy".

SUMCO Stock Down 6.1%

The business has a fifty day moving average of $19.29 and a 200 day moving average of $16.03. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 55.13 and a beta of 1.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.97 and a quick ratio of 1.28.

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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