SMTC (NASDAQ:SMTX) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SMTC (NASDAQ:SMTX) from a strong sell rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “SMTC Corp. is a leading provider of advanced electronics manufacturing services to electronics industry original equipment manufacturers worldwide. The company services its customers through manufacturing and technology centers strategically located in key technology corridors in the United States, Canada, Europe and a cost-effective region of Mexico. The company’s full range of value- added services include product design, procurement, prototyping, assembly, final system build, comprehensive supply chain management, global distribution and after-sales support. “

A number of other analysts also recently commented on the company. TheStreet downgraded YRC Worldwide from a c rating to a d+ rating in a report on Wednesday, May 15th. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $7.50.

SMTX stock opened at $4.04 on Thursday. The firm has a market cap of $113.10 million, a P/E ratio of 202.00 and a beta of 0.63. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 1.95. The business’s fifty day moving average price is $3.54. SMTC has a 52 week low of $2.30 and a 52 week high of $5.98.

SMTC (NASDAQ:SMTX) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $102.65 million for the quarter, compared to analyst estimates of $98.04 million. SMTC had a return on equity of 1.73% and a net margin of 0.27%. As a group, equities analysts forecast that SMTC will post 0.07 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new stake in SMTC in the 1st quarter valued at $55,000. Sigma Planning Corp acquired a new stake in SMTC in the 1st quarter valued at $91,000. Finally, Dimensional Fund Advisors LP increased its holdings in SMTC by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 143,531 shares of the technology company’s stock valued at $586,000 after purchasing an additional 3,979 shares in the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

SMTC Company Profile

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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