Semiconductor Manufacturing International Corporation (NYSE:SMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Semiconductor Manufacturing International Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Sanford C. Bernstein downgraded Semiconductor Manufacturing International Corporation from a “market perform” rating to an “underperform” rating in a research report on Thursday, August 10th. Citigroup Inc. cut Semiconductor Manufacturing International Corporation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 10th. BNP Paribas cut Semiconductor Manufacturing International Corporation from a “hold” rating to a “reduce” rating in a research note on Wednesday, August 9th. Finally, BidaskClub cut Semiconductor Manufacturing International Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $8.68.

Shares of Semiconductor Manufacturing International Corporation (NYSE:SMI) traded down 1.58% on Wednesday, hitting $6.22. The stock had a trading volume of 40,073 shares. The firm’s 50-day moving average is $5.23 and its 200-day moving average is $5.51. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 77.75 and a beta of 0.29. Semiconductor Manufacturing International Corporation has a one year low of $4.49 and a one year high of $7.74.

Semiconductor Manufacturing International Corporation (NYSE:SMI) last issued its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $751.19 million for the quarter, compared to analyst estimates of $757.00 million. Semiconductor Manufacturing International Corporation had a return on equity of 5.63% and a net margin of 10.33%. During the same period in the prior year, the firm posted $0.11 earnings per share. On average, analysts expect that Semiconductor Manufacturing International Corporation will post $0.14 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Semiconductor Manufacturing International Corporation (SMI) Raised to Hold at Zacks Investment Research” was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/11/semiconductor-manufacturing-international-corporation-smi-raised-to-hold-at-zacks-investment-research.html.

Large investors have recently made changes to their positions in the company. FNY Partners Fund LP acquired a new stake in shares of Semiconductor Manufacturing International Corporation during the 2nd quarter valued at $114,000. Northern Trust Corp lifted its holdings in shares of Semiconductor Manufacturing International Corporation by 4.2% in the second quarter. Northern Trust Corp now owns 46,976 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 1,908 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Semiconductor Manufacturing International Corporation by 8.0% in the first quarter. Bank of America Corp DE now owns 46,484 shares of the semiconductor company’s stock valued at $292,000 after purchasing an additional 3,437 shares in the last quarter. Comerica Bank lifted its holdings in shares of Semiconductor Manufacturing International Corporation by 2.1% in the first quarter. Comerica Bank now owns 48,799 shares of the semiconductor company’s stock valued at $296,000 after purchasing an additional 997 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Semiconductor Manufacturing International Corporation in the first quarter valued at $308,000. Institutional investors own 0.69% of the company’s stock.

Semiconductor Manufacturing International Corporation Company Profile

Semiconductor Manufacturing International Corporation is an investment holding company principally engaged in the computer-aided design, manufacture, packaging and trading of integrated circuits (IC), as well as the provision of other semiconductor services. The Company is also involved in the design and manufacture of semiconductor masks.

Get a free copy of the Zacks research report on Semiconductor Manufacturing International Corporation (SMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Semiconductor  Manufacturing International Corporation (NYSE:SMI)

Receive News & Ratings for Semiconductor Manufacturing International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Semiconductor Manufacturing International Corporation and related companies with MarketBeat.com's FREE daily email newsletter.