SMTC (SMTX) Upgraded to Buy by ValuEngine

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ValuEngine upgraded shares of SMTC (NASDAQ:SMTX) from a hold rating to a buy rating in a report released on Thursday.

Other equities research analysts have also issued research reports about the stock. Craig Hallum started coverage on shares of SMTC in a research note on Monday, January 14th. They issued a buy rating and a $9.00 target price on the stock. B. Riley started coverage on shares of SMTC in a research note on Tuesday, December 11th. They issued a buy rating and a $6.00 target price on the stock. Finally, Zacks Investment Research lowered shares of SMTC from a hold rating to a sell rating in a research note on Tuesday, March 12th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $7.50.

NASDAQ:SMTX opened at $4.50 on Thursday. The stock has a market capitalization of $104.35 million, a price-to-earnings ratio of -10.23 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.39 and a quick ratio of 0.98. SMTC has a 1-year low of $2.10 and a 1-year high of $5.98.

SMTC (NASDAQ:SMTX) last issued its earnings results on Thursday, March 14th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $80.86 million during the quarter, compared to analyst estimates of $73.70 million. SMTC had a negative net margin of 0.07% and a negative return on equity of 0.56%. As a group, sell-side analysts expect that SMTC will post 0.11 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of 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. Renaissance Technologies LLC raised its stake in shares of SMTC by 10.1% in the 3rd quarter. Renaissance Technologies LLC now owns 409,210 shares of the technology company’s stock valued at $1,183,000 after purchasing an additional 37,545 shares in the last quarter. Bridgeway Capital Management Inc. raised its stake in shares of SMTC by 33.3% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 140,000 shares of the technology company’s stock valued at $405,000 after purchasing an additional 35,000 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of SMTC by 38.5% in the 3rd quarter. BlackRock Inc. now owns 57,049 shares of the technology company’s stock valued at $165,000 after purchasing an additional 15,871 shares in the last quarter. Institutional investors and hedge funds own 14.68% of the company’s stock.

About SMTC

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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