SMTC (NASDAQ:SMTX) Rating Lowered to Sell at Zacks Investment Research

SMTC (NASDAQ:SMTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, 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. “

Separately, ValuEngine downgraded SMTC from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd.

SMTX stock opened at $3.13 on Friday. SMTC has a 1-year low of $1.32 and a 1-year high of $4.19. The stock has a market cap of $88.31 million, a P/E ratio of 11.59 and a beta of 1.38. The stock’s fifty day simple moving average is $3.06 and its two-hundred day simple moving average is $3.03. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.92.

SMTC (NASDAQ:SMTX) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.07 earnings per share for the quarter. SMTC had a negative net margin of 1.76% and a positive return on equity of 17.18%. The company had revenue of $95.14 million for the quarter, compared to the consensus estimate of $91.00 million. As a group, analysts forecast that SMTC will post 0.13 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in SMTC stock. Cadence Capital Management LLC acquired a new stake in shares of SMTC Co. (NASDAQ:SMTX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 261,223 shares of the technology company’s stock, valued at approximately $609,000. Cadence Capital Management LLC owned 0.93% of SMTC as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 14.87% 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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