SUMCO CORP/ADR (OTCMKTS:SUOPY) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of SUMCO CORP/ADR (OTCMKTS:SUOPY) from a sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Sumco Corporation manufactures and sells silicon wafers for the semiconductor industry. It offers monocrystalline ingots, polished wafers, annealed wafers, epitaxial wafers, junction isolated wafers, silicon-on-insulator wafers, and reclaimed polished wafers. The company operates primarily in Japan, North America, Asia and Europe. Sumco Corporation is headquartered in Tokyo, Japan. “

Other equities analysts have also issued research reports about the stock. Goldman Sachs Group assumed coverage on shares of SUMCO CORP/ADR in a report on Friday, July 17th. They set a conviction-buy rating on the stock. Jefferies Financial Group upgraded shares of SUMCO CORP/ADR from a hold rating to a buy rating in a report on Monday, May 18th. ValuEngine lowered shares of SUMCO CORP/ADR from a hold rating to a sell rating in a report on Monday, June 8th. Morgan Stanley upgraded shares of SUMCO CORP/ADR from an underweight rating to an equal weight rating in a report on Thursday, April 23rd. Finally, Citigroup assumed coverage on shares of SUMCO CORP/ADR in a report on Friday, July 17th. They set a buy rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $35.00.

Shares of SUOPY opened at $32.16 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.68 billion, a P/E ratio of 18.07 and a beta of 1.78. The firm’s fifty day simple moving average is $30.86 and its two-hundred day simple moving average is $30.04. SUMCO CORP/ADR has a 12 month low of $19.61 and a 12 month high of $35.45.

SUMCO CORP/ADR (OTCMKTS:SUOPY) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.53 EPS for the quarter. The business had revenue of $663.34 million for the quarter, compared to analysts’ expectations of $595.45 million. SUMCO CORP/ADR had a net margin of 9.81% and a return on equity of 8.44%. As a group, research analysts predict that SUMCO CORP/ADR will post 1.85 EPS for the current fiscal year.

About SUMCO CORP/ADR

Sumco Corporation, together with its subsidiaries, manufactures and sells silicon wafers for the semiconductor industry in Japan, North America, Asia, and Europe. It provides monocrystalline ingots, as well as polished, annealed, epitaxial, junction isolated, silicon-on-insulator, and reclaimed polished wafers.

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