SMTC (SMTX) Cut to D+ at TheStreet

SMTC (NASDAQ:SMTX) was downgraded by TheStreet from a “c” rating to a “d+” rating in a report issued on Wednesday, TheStreetRatingsTable reports.

Several other equities research analysts have also recently weighed in on the company. ValuEngine raised SMTC from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research cut SMTC from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $7.50.

Shares of SMTX stock traded down $0.02 on Wednesday, hitting $3.56. The company had a trading volume of 44,647 shares, compared to its average volume of 67,659. The stock has a market cap of $88.74 million, a price-to-earnings ratio of 59.33 and a beta of 0.36. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 1.95. SMTC has a twelve month low of $2.30 and a twelve month high of $5.98.

SMTC (NASDAQ:SMTX) last issued its quarterly earnings results on Thursday, March 14th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $80.86 million during the quarter, compared to analyst estimates of $73.70 million. SMTC had a net margin of 0.27% and a return on equity of 1.73%. Sell-side analysts forecast that SMTC will post 0.07 earnings per share for the current year.

Several hedge funds have recently modified their holdings of SMTX. Ridgewood Investments LLC acquired a new stake in shares of SMTC in the first quarter valued at about $55,000. Morgan Stanley increased its stake in shares of SMTC by 227.2% in the first quarter. Morgan Stanley now owns 18,093 shares of the technology company’s stock valued at $68,000 after buying an additional 12,564 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in shares of SMTC in the first quarter valued at about $91,000. Sigma Planning Corp acquired a new stake in shares of SMTC in the first quarter valued at about $91,000. Finally, BlackRock Inc. increased its stake in shares of SMTC by 38.5% in the third quarter. BlackRock Inc. now owns 57,049 shares of the technology company’s stock valued at $165,000 after buying an additional 15,871 shares during the period. 14.74% of the stock is owned by institutional investors.

About SMTC

SMTC Corporation provides electronics manufacturing services worldwide. The company offers end-to-end electronics manufacturing services, including product design and engineering; printed circuit board assembly; production, enclosure, cable assembly, and precision metal fabrication; systems integration and testing; and configuration to order, build to order, and direct order fulfillment services.

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