Zacks Investment Research upgraded shares of Semiconductor Manufacturing Int’l (NYSE:SMI) from a hold rating to a buy rating in a report issued on Saturday morning. The brokerage currently has $5.75 target price on the semiconductor company’s stock.
According to Zacks, “SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit manufacturing service at 0.35 micron to 65 nanometer and finer line technologies. Headquartered in Shanghai, China, SMIC has a 300-millimeter wafer fabrication facility (fab) and three 200 mm wafer fabs in its Shanghai mega-fab, two 300 mm wafer fabs in its Beijing mega-fab, a 200 mm wafer fab in Tianjin, and an in-house assembly and testing facility in Chengdu. SMIC also has customer service and marketing offices in the U.S., Europe, and Japan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 200 mm wafer fab in Chengdu owned by Cension Semiconductor Manufacturing Corporation and a 300 mm wafer fab under construction in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation. “
Get Semiconductor Manufacturing Int'l alerts:Several other brokerages have also recently weighed in on SMI. Daiwa Capital Markets cut shares of Semiconductor Manufacturing Int’l from a hold rating to a sell rating in a research report on Friday. ValuEngine cut shares of Semiconductor Manufacturing Int’l from a buy rating to a hold rating in a research report on Monday, December 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $5.75.
Shares of SMI opened at $5.04 on Friday. Semiconductor Manufacturing Int’l has a fifty-two week low of $3.74 and a fifty-two week high of $7.37. The company has a market capitalization of $4.69 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 519.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.10 and a quick ratio of 1.82.
Semiconductor Manufacturing Int’l (NYSE:SMI) last announced its quarterly earnings results on Thursday, February 14th. The semiconductor company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Semiconductor Manufacturing Int’l had a net margin of 4.06% and a return on equity of 1.87%. The firm had revenue of $787.60 million during the quarter, compared to analysts’ expectations of $783.62 million. During the same quarter in the prior year, the company earned $0.05 EPS. The company’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Semiconductor Manufacturing Int’l will post 0.08 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in SMI. Wetherby Asset Management Inc. purchased a new stake in shares of Semiconductor Manufacturing Int’l in the 4th quarter worth approximately $43,000. Jane Street Group LLC purchased a new stake in shares of Semiconductor Manufacturing Int’l in the 4th quarter worth approximately $135,000. Highbridge Capital Management LLC purchased a new stake in shares of Semiconductor Manufacturing Int’l in the 3rd quarter worth approximately $271,000. Millennium Management LLC lifted its position in shares of Semiconductor Manufacturing Int’l by 271.9% in the 4th quarter. Millennium Management LLC now owns 91,495 shares of the semiconductor company’s stock worth $392,000 after purchasing an additional 66,896 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Semiconductor Manufacturing Int’l by 24.6% in the 4th quarter. Northern Trust Corp now owns 115,873 shares of the semiconductor company’s stock worth $495,000 after purchasing an additional 22,901 shares during the period. 0.47% of the stock is owned by hedge funds and other institutional investors.
About Semiconductor Manufacturing Int’l
Semiconductor Manufacturing International Corporation, an investment holding company, engages in the computer-aided design, manufacture, testing, packaging, and trading of integrated circuits (IC) and other semiconductor services. The company offers various types of semiconductors, including logic, mixed-signal and radio frequency, power IC, microprocessor, memory related, optoelectronics, other sensors, discrete, and others.
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