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

Zacks Investment Research downgraded shares of Semiconductor Manufacturing Int'l (NYSE:SMI) from a hold rating to a sell rating in a research report released 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. “

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. lowered Semiconductor Manufacturing Int'l from a neutral rating to an underweight rating in a report on Sunday, February 11th. Citigroup lowered Semiconductor Manufacturing Int'l from a neutral rating to a sell rating in a report on Sunday, February 11th. Jefferies Group lowered Semiconductor Manufacturing Int'l from a buy rating to a hold rating in a report on Thursday, November 16th. Bank of America lowered Semiconductor Manufacturing Int'l from a buy rating to an underperform rating in a report on Wednesday, November 15th. Finally, Daiwa Capital Markets lowered Semiconductor Manufacturing Int'l from a buy rating to a hold rating in a report on Wednesday, November 15th. Twelve analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Semiconductor Manufacturing Int'l currently has a consensus rating of Sell.

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

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

Several hedge funds and other institutional investors have recently made changes to their positions in SMI. Millennium Management LLC purchased a new stake in shares of Semiconductor Manufacturing Int'l during the fourth quarter valued at $1,360,000. Bank of Montreal Can lifted its holdings in shares of Semiconductor Manufacturing Int'l by 33.6% during the fourth quarter. Bank of Montreal Can now owns 272,316 shares of the semiconductor company’s stock valued at $2,331,000 after purchasing an additional 68,550 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Semiconductor Manufacturing Int'l by 16.9% during the third quarter. First Trust Advisors LP now owns 405,393 shares of the semiconductor company’s stock valued at $2,254,000 after purchasing an additional 58,753 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Semiconductor Manufacturing Int'l by 59.6% during the fourth quarter. Profund Advisors LLC now owns 134,343 shares of the semiconductor company’s stock valued at $1,150,000 after purchasing an additional 50,193 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Semiconductor Manufacturing Int'l by 12.7% during the fourth quarter. Aperio Group LLC now owns 75,784 shares of the semiconductor company’s stock valued at $649,000 after purchasing an additional 8,521 shares during the last quarter. 0.68% of the stock is 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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