Semiconductor Manufacturing Int’l (SMI) Upgraded to “Buy” at Zacks Investment Research

Semiconductor Manufacturing Int’l (NYSE:SMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $6.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.99% from the company’s previous close.

According to Zacks, “SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit manufacturing service at 0.35 micron to 65 nanometer and finer line technologies. Headquartered in Shanghai, China, SMIC has a 300-millimeter wafer fabrication facility (fab) and three 200 mm wafer fabs in its Shanghai mega-fab, two 300 mm wafer fabs in its Beijing mega-fab, a 200 mm wafer fab in Tianjin, and an in-house assembly and testing facility in Chengdu. SMIC also has customer service and marketing offices in the U.S., Europe, and Japan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 200 mm wafer fab in Chengdu owned by Cension Semiconductor Manufacturing Corporation and a 300 mm wafer fab under construction in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation. “

Several other research analysts have also recently commented on the stock. ValuEngine cut shares of Semiconductor Manufacturing Int’l from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Daiwa Capital Markets lowered shares of Semiconductor Manufacturing Int’l from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Semiconductor Manufacturing Int’l has an average rating of “Hold” and a consensus price target of $6.00.

SMI traded up $0.01 on Wednesday, reaching $5.31. The company had a trading volume of 1,298 shares, compared to its average volume of 124,761. Semiconductor Manufacturing Int’l has a one year low of $3.74 and a one year high of $7.37. The company has a quick ratio of 1.94, a current ratio of 2.15 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $5.02 billion, a PE ratio of 45.00 and a beta of 0.80.

Semiconductor Manufacturing Int’l (NYSE:SMI) last posted its quarterly earnings data on Thursday, February 14th. The semiconductor company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Semiconductor Manufacturing Int’l had a net margin of 3.19% and a return on equity of 1.37%. The company had revenue of $787.60 million during the quarter, compared to analyst estimates of $783.62 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts expect that Semiconductor Manufacturing Int’l will post -0.05 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. OLD Mission Capital LLC purchased a new stake in shares of Semiconductor Manufacturing Int’l in the fourth quarter worth approximately $766,000. D. E. Shaw & Co. Inc. raised its position in Semiconductor Manufacturing Int’l by 105.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 170,564 shares of the semiconductor company’s stock valued at $730,000 after acquiring an additional 87,342 shares in the last quarter. Northern Trust Corp raised its position in Semiconductor Manufacturing Int’l by 24.6% during the fourth quarter. Northern Trust Corp now owns 115,873 shares of the semiconductor company’s stock valued at $495,000 after acquiring an additional 22,901 shares in the last quarter. Millennium Management LLC raised its position in Semiconductor Manufacturing Int’l by 271.9% during the fourth quarter. Millennium Management LLC now owns 91,495 shares of the semiconductor company’s stock valued at $392,000 after acquiring an additional 66,896 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Semiconductor Manufacturing Int’l during the fourth quarter valued at approximately $135,000. 0.49% of the stock is owned by institutional investors and hedge funds.

Semiconductor Manufacturing Int’l Company Profile

Semiconductor Manufacturing International Corporation, an investment holding company, engages in the computer-aided design, manufacture, testing, packaging, and trading of integrated circuits (IC) and other semiconductor services. The company offers various types of semiconductors, including logic, mixed-signal and radio frequency, power IC, microprocessor, memory related, optoelectronics, other sensors, discrete, and others.

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