Smith Micro Software, Inc. (NASDAQ:SMSI) Given Consensus Rating of “Buy” by Brokerages

Shares of Smith Micro Software, Inc. (NASDAQ:SMSI) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.44.

SMSI has been the topic of several research analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of Smith Micro Software in a research report on Tuesday, July 23rd. Zacks Investment Research raised shares of Smith Micro Software from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Saturday, July 27th. B. Riley initiated coverage on shares of Smith Micro Software in a research report on Friday, July 19th. They set a “buy” rating and a $5.00 price target on the stock. ValuEngine cut shares of Smith Micro Software from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, TheStreet raised shares of Smith Micro Software from a “d” rating to a “c-” rating in a research report on Friday, May 10th.

In related news, CFO Timothy C. Huffmyer sold 42,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $5.48, for a total transaction of $230,160.00. Following the sale, the chief financial officer now owns 239,343 shares in the company, valued at $1,311,599.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas G. Campbell sold 20,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $6.19, for a total transaction of $123,800.00. Following the sale, the director now owns 37,000 shares in the company, valued at approximately $229,030. The disclosure for this sale can be found here. Company insiders own 24.79% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in shares of Smith Micro Software by 54.4% in the fourth quarter. Northern Trust Corp now owns 32,448 shares of the software maker’s stock valued at $58,000 after purchasing an additional 11,432 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Smith Micro Software in the first quarter valued at approximately $106,000. Acadian Asset Management LLC increased its stake in shares of Smith Micro Software by 75.8% in the first quarter. Acadian Asset Management LLC now owns 105,713 shares of the software maker’s stock valued at $296,000 after purchasing an additional 45,590 shares during the period. BlackRock Inc. increased its stake in shares of Smith Micro Software by 4.3% in the fourth quarter. BlackRock Inc. now owns 368,229 shares of the software maker’s stock valued at $663,000 after purchasing an additional 15,165 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Smith Micro Software by 26.2% in the second quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock valued at $2,839,000 after purchasing an additional 194,019 shares during the period. Hedge funds and other institutional investors own 6.04% of the company’s stock.

NASDAQ:SMSI traded up $0.39 on Tuesday, reaching $6.37. The stock had a trading volume of 1,237,200 shares, compared to its average volume of 2,336,623. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.21. Smith Micro Software has a 12-month low of $1.62 and a 12-month high of $6.65. The company has a 50-day moving average of $4.34 and a 200 day moving average of $3.10. The stock has a market cap of $220.97 million, a P/E ratio of -45.50 and a beta of 0.41.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.01 by $0.09. Smith Micro Software had a net margin of 15.99% and a return on equity of 26.71%. The business had revenue of $10.85 million for the quarter, compared to analysts’ expectations of $8.65 million. On average, equities analysts predict that Smith Micro Software will post 0.23 EPS for the current year.

About Smith Micro Software

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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