Timothy C. Huffmyer Sells 42,000 Shares of Smith Micro Software, Inc. (NASDAQ:SMSI) Stock

Smith Micro Software, Inc. (NASDAQ:SMSI) CFO Timothy C. Huffmyer sold 42,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $5.48, for a total value of $230,160.00. Following the completion of the sale, the chief financial officer now owns 239,343 shares of the company’s stock, valued at $1,311,599.64. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of Smith Micro Software stock opened at $5.82 on Friday. The firm’s 50-day simple moving average is $3.50. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $192.09 million, a P/E ratio of -41.57 and a beta of 0.39. Smith Micro Software, Inc. has a 1-year low of $1.62 and a 1-year high of $6.60.

Smith Micro Software (NASDAQ:SMSI) last announced its earnings results on Thursday, July 25th. The software maker reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.09. The company had revenue of $10.85 million during the quarter, compared to the consensus estimate of $8.65 million. Smith Micro Software had a return on equity of 31.98% and a net margin of 15.99%. As a group, sell-side analysts expect that Smith Micro Software, Inc. will post 0.23 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Smith Micro Software by 4.3% during the fourth quarter. BlackRock Inc. now owns 368,229 shares of the software maker’s stock valued at $663,000 after acquiring an additional 15,165 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Smith Micro Software by 75.8% during the first quarter. Acadian Asset Management LLC now owns 105,713 shares of the software maker’s stock worth $296,000 after purchasing an additional 45,590 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Smith Micro Software during the first quarter worth about $106,000. Finally, Northern Trust Corp lifted its position in shares of Smith Micro Software by 54.4% during the fourth quarter. Northern Trust Corp now owns 32,448 shares of the software maker’s stock worth $58,000 after purchasing an additional 11,432 shares during the last quarter. Institutional investors own 6.96% of the company’s stock.

Several analysts have recently weighed in on SMSI shares. TheStreet upgraded Smith Micro Software from a “d” rating to a “c-” rating in a research note on Friday, May 10th. Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of Smith Micro Software in a research note on Tuesday, July 23rd. B. Riley started coverage on Smith Micro Software in a research note on Friday, July 19th. They set a “buy” rating and a $5.00 target price for the company. ValuEngine downgraded Smith Micro Software from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Zacks Investment Research upgraded Smith Micro Software from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Saturday, July 27th. Five analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $4.44.

Smith Micro Software Company Profile

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

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