Zacks Investment Research Lowers Semiconductor Manufacturing Int'l (SMI) to Sell

Zacks Investment Research lowered shares of Semiconductor Manufacturing Int'l (NYSE:SMI) from a hold rating to a sell rating in a report issued on Wednesday morning.

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 analysts have also recently commented on SMI. Credit Suisse Group cut shares of Semiconductor Manufacturing Int'l from a neutral rating to an underperform rating in a research note on Tuesday, November 7th. HSBC cut shares of Semiconductor Manufacturing Int'l from a hold rating to a reduce rating in a research note on Wednesday, November 15th. Daiwa Capital Markets cut shares of Semiconductor Manufacturing Int'l from a buy rating to a hold rating in a research note on Wednesday, November 15th. Bank of America cut shares of Semiconductor Manufacturing Int'l from a buy rating to an underperform rating in a research note on Wednesday, November 15th. Finally, Jefferies Group cut shares of Semiconductor Manufacturing Int'l from a buy rating to a hold rating in a research note on Thursday, November 16th. Twelve equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Sell.

Shares of Semiconductor Manufacturing Int'l (NYSE SMI) opened at $6.13 on Wednesday. The stock has a market capitalization of $5,890.00, a PE ratio of 34.06, a price-to-earnings-growth ratio of 6.99 and a beta of 0.06. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. Semiconductor Manufacturing Int'l has a 12 month low of $4.49 and a 12 month high of $9.14.

Semiconductor Manufacturing Int'l (NYSE:SMI) last released its earnings results on Thursday, February 8th. The semiconductor company reported $0.05 EPS for the quarter. The company had revenue of $787.20 million during the quarter, compared to analysts’ expectations of $791.02 million. Semiconductor Manufacturing Int'l had a net margin of 5.79% and a return on equity of 3.02%. Semiconductor Manufacturing Int'l’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the business earned $0.11 EPS. equities research analysts forecast that Semiconductor Manufacturing Int'l will post 0.06 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its position in 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 worth $2,331,000 after buying an additional 68,550 shares during the last quarter. First Trust Advisors LP raised its position in 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 worth $2,254,000 after buying an additional 58,753 shares during the last quarter. Northern Trust Corp raised its position in 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 worth $267,000 after buying an additional 1,908 shares during the last quarter. Millennium Management LLC purchased a new position in Semiconductor Manufacturing Int'l during the 4th quarter worth approximately $1,360,000. Finally, Profund Advisors LLC raised its position in 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 worth $1,150,000 after buying an additional 50,193 shares during the last quarter. 0.68% of the stock is owned by institutional investors.

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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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