SMTC (NASDAQ:SMTX) Upgraded by Zacks Investment Research to Hold

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Zacks Investment Research upgraded shares of SMTC (NASDAQ:SMTX) from a strong sell rating to a hold rating in a report published 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. “

SMTX has been the topic of several other research reports. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. TheStreet lowered shares of YRC Worldwide from a c rating to a d+ rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $7.50.

Shares of SMTX stock opened at $4.04 on Thursday. The company has a market capitalization of $113.10 million, a PE ratio of 202.00 and a beta of 0.63. SMTC has a one year low of $2.30 and a one year high of $5.98. The stock’s 50-day moving average is $3.54. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 1.95.

SMTC (NASDAQ:SMTX) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business 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%. On average, equities research analysts expect that SMTC will post 0.07 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in SMTC by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 143,531 shares of the technology company’s stock worth $586,000 after acquiring an additional 3,979 shares during the period. Ridgewood Investments LLC raised its stake in SMTC by 39.1% during the second quarter. Ridgewood Investments LLC now owns 20,307 shares of the technology company’s stock worth $78,000 after acquiring an additional 5,707 shares during the period. Finally, Sigma Planning Corp acquired a new stake in SMTC during the first quarter worth about $91,000. 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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