Smith Micro Software (NASDAQ:SMSI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Smith Micro Software (NASDAQ:SMSI) from a hold rating to a sell rating in a research report released on Saturday, Zacks.com reports.

According to Zacks, “Smith Micro Software, Inc. develops and sells communications software for personal and business use. The company’s objective is to enhance human interaction by giving users the ability to communicate through multimedia technologies over analog and digital platforms. Smith Micro’s products enable personal communication through telephony, fax, multimedia email, data, paging, video security and video conferencing. “

Several other equities research analysts have also commented on the company. ValuEngine lowered Smith Micro Software from a hold rating to a sell rating in a research note on Friday, May 1st. TheStreet downgraded Smith Micro Software from a b- rating to a c+ rating in a research report on Monday, May 11th. Finally, B. Riley dropped their price target on Smith Micro Software from $9.00 to $7.50 and set a buy rating for the company in a research report on Monday, April 27th. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $6.75.

Smith Micro Software stock opened at $4.42 on Friday. The company has a market cap of $183.08 million, a P/E ratio of 13.39 and a beta of 0.71. Smith Micro Software has a one year low of $2.95 and a one year high of $7.15. The business has a fifty day moving average of $4.44 and a two-hundred day moving average of $4.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.55 and a current ratio of 3.55.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $13.32 million during the quarter, compared to analysts’ expectations of $12.43 million. Smith Micro Software had a net margin of 26.37% and a return on equity of 30.81%. Sell-side analysts predict that Smith Micro Software will post 0.2 EPS for the current year.

In related news, Director Thomas G. Campbell sold 15,000 shares of Smith Micro Software stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $4.85, for a total transaction of $72,750.00. Following the completion of the sale, the director now owns 47,000 shares in the company, valued at approximately $227,950. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy C. Huffmyer sold 16,000 shares of Smith Micro Software stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $4.92, for a total value of $78,720.00. Following the sale, the chief financial officer now owns 304,733 shares of the company’s stock, valued at approximately $1,499,286.36. The disclosure for this sale can be found here. 17.60% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SMSI. Blair William & Co. IL acquired a new position in shares of Smith Micro Software in the first quarter valued at approximately $57,000. Acadian Asset Management LLC grew its stake in Smith Micro Software by 94.9% in the 1st quarter. Acadian Asset Management LLC now owns 431,367 shares of the software maker’s stock worth $1,816,000 after acquiring an additional 210,077 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Smith Micro Software in the 4th quarter worth approximately $160,000. AXA acquired a new position in Smith Micro Software in the 4th quarter valued at $267,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Smith Micro Software by 328.6% during the 1st quarter. Bank of New York Mellon Corp now owns 150,542 shares of the software maker’s stock worth $634,000 after purchasing an additional 115,420 shares during the period. 21.71% of the stock is currently owned by institutional investors.

About Smith Micro Software

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

Featured Article: Quiet Period

Get a free copy of the Zacks research report on Smith Micro Software (SMSI)

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

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