Semiconductor Manufacturing Int'l (SMI) Rating Lowered to Sell at Zacks Investment Research

Semiconductor Manufacturing Int'l (NYSE:SMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “

Several other research analysts have also weighed in on SMI. Credit Suisse Group lowered Semiconductor Manufacturing Int'l from a “neutral” rating to an “underperform” rating in a research report on Tuesday, November 7th. HSBC lowered Semiconductor Manufacturing Int'l from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 15th. Daiwa Capital Markets lowered Semiconductor Manufacturing Int'l from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Bank of America lowered Semiconductor Manufacturing Int'l from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 15th. Finally, Jefferies Group lowered Semiconductor Manufacturing Int'l from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Twelve analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Sell”.

Shares of Semiconductor Manufacturing Int'l (SMI) traded up $0.06 during mid-day trading on Wednesday, reaching $6.04. The company’s stock had a trading volume of 139,390 shares, compared to its average volume of 380,822. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.52 and a current ratio of 1.87. Semiconductor Manufacturing Int'l has a 12 month low of $4.49 and a 12 month high of $9.14. The firm has a market cap of $5,451.71, a price-to-earnings ratio of 31.84, a P/E/G ratio of 3.64 and a beta of 0.06.

Semiconductor Manufacturing Int'l (NYSE:SMI) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $0.05 earnings per share for the quarter. Semiconductor Manufacturing Int'l had a return on equity of 3.02% and a net margin of 5.79%. The company had revenue of $787.20 million for the quarter, compared to analyst estimates of $791.02 million. During the same period in the prior year, the firm posted $0.11 EPS. The business’s revenue was down 3.4% compared to the same quarter last year. sell-side analysts forecast that Semiconductor Manufacturing Int'l will post 0.11 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of Semiconductor Manufacturing Int'l by 4.2% during the 2nd quarter. Northern Trust Corp now owns 46,976 shares of the semiconductor company’s stock valued at $267,000 after acquiring an additional 1,908 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Semiconductor Manufacturing Int'l by 12.7% during the 4th quarter. Aperio Group LLC now owns 75,784 shares of the semiconductor company’s stock valued at $649,000 after acquiring an additional 8,521 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Semiconductor Manufacturing Int'l by 59.6% during the 4th quarter. Profund Advisors LLC now owns 134,343 shares of the semiconductor company’s stock valued at $1,150,000 after acquiring an additional 50,193 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Semiconductor Manufacturing Int'l by 33.6% during the 4th quarter. Bank of Montreal Can now owns 272,316 shares of the semiconductor company’s stock valued at $2,331,000 after acquiring an additional 68,550 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Semiconductor Manufacturing Int'l by 16.9% during the 3rd quarter. First Trust Advisors LP now owns 405,393 shares of the semiconductor company’s stock valued at $2,254,000 after acquiring an additional 58,753 shares during the last quarter. 0.68% of the stock is currently owned by institutional investors and hedge funds.

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About Semiconductor Manufacturing Int'l

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.

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