SUMCO (OTCMKTS:SUOPY) Shares Gap Up - Time to Buy?

Key Points

• SUMCO shares gapped up, opening at $22.22 versus the prior close of $21.22 and trading up about 4.7% on the session, though volume was light (191 shares).
• Sanford C. Bernstein upgraded the stock from "strong sell" to "hold", and MarketBeat shows an average rating of "Buy" (1 Strong Buy, 1 Hold).
• Fundamentals remain mixed: the company reported a ($0.40) EPS and a negative net margin (-2.82%) last quarter, with a market cap of ~$3.89B and a negative P/E of -49.38, but healthy liquidity (current ratio 3.11).

Shares of SUMCO (OTCMKTS:SUOPY - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $21.22, but opened at $22.22. SUMCO shares last traded at $22.22, with a volume of 191 shares.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein raised shares of SUMCO from a "strong sell" rating to a "hold" rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy".

SUMCO Trading Up 4.7%

The company has a debt-to-equity ratio of 0.50, a current ratio of 3.11 and a quick ratio of 1.29. The business's fifty day simple moving average is $20.40 and its 200 day simple moving average is $19.25. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -49.38 and a beta of 1.06.

SUMCO (OTCMKTS:SUOPY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported ($0.40) earnings per share (EPS) for the quarter. SUMCO had a negative return on equity of 1.75% and a negative net margin of 2.82%.The business had revenue of $683.19 million during the quarter.

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.

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