Craig Hallum Begins Coverage on SMTC (SMTX)

Craig Hallum initiated coverage on shares of SMTC (NASDAQ:SMTX) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. ValuEngine raised shares of SMTC from a “hold” rating to a “buy” rating in a research report on Friday. B. Riley assumed coverage on shares of SMTC in a research report on Tuesday, December 11th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, TheStreet raised shares of SMTC from a “d+” rating to a “c” rating in a research report on Thursday, November 1st.

Shares of SMTC stock traded up $0.14 during trading on Monday, hitting $5.21. The stock had a trading volume of 250 shares, compared to its average volume of 254,722. The company has a market cap of $100.64 million, a P/E ratio of -11.75 and a beta of 0.35. 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 $1.80 and a 1 year high of $5.25.

SMTC (NASDAQ:SMTX) last released its earnings results on Tuesday, November 6th. The technology company reported $0.04 earnings per share for the quarter. The business had revenue of $53.68 million for the quarter. SMTC had a negative net margin of 0.07% and a negative return on equity of 0.56%. On average, analysts expect that SMTC will post 0.14 EPS for the current fiscal year.

In related news, CEO Edward J. Smith acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were purchased at an average cost of $4.05 per share, with a total value of $40,500.00. Following the completion of the transaction, the chief executive officer now owns 269,428 shares of the company’s stock, valued at approximately $1,091,183.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 17,270 shares of company stock worth $68,161 over the last ninety days. 27.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SMTX. BlackRock Inc. purchased a new position in SMTC during the second quarter valued at approximately $121,000. Dimensional Fund Advisors LP grew its position in SMTC by 33.3% during the third quarter. Dimensional Fund Advisors LP now owns 139,552 shares of the technology company’s stock valued at $403,000 after purchasing an additional 34,885 shares in the last quarter. Bridgeway Capital Management Inc. grew its position in SMTC by 33.3% during the third 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. Essex Investment Management Co. LLC grew its position in SMTC by 33.3% during the third quarter. Essex Investment Management Co. LLC now owns 207,326 shares of the technology company’s stock valued at $599,000 after purchasing an additional 51,830 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in SMTC by 15.5% during the second quarter. Renaissance Technologies LLC now owns 371,665 shares of the technology company’s stock valued at $1,093,000 after purchasing an additional 49,966 shares in the last quarter. 14.63% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Net Income

The Fly

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