SMTC Co. (NASDAQ:SMTX) Receives Average Recommendation of “Strong Buy” from Analysts

SMTC Co. (NASDAQ:SMTX) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus price target of $7.50 for the company and are predicting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also given SMTC an industry rank of 183 out of 255 based on the ratings given to related companies.

SMTX has been the topic of a number of recent research reports. Zacks Investment Research raised SMTC from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. ValuEngine raised SMTC from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. TheStreet raised SMTC from a “d+” rating to a “c-” rating in a research report on Monday, July 15th. Finally, Craig Hallum dropped their price objective on SMTC from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd.

SMTX opened at $2.18 on Tuesday. SMTC has a 12-month low of $2.02 and a 12-month high of $5.98. The company has a current ratio of 1.47, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44. The business’s fifty day simple moving average is $2.62 and its 200-day simple moving average is $3.35. The company has a market capitalization of $62.20 million, a price-to-earnings ratio of 27.75 and a beta of 0.66.

SMTC (NASDAQ:SMTX) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. SMTC had a positive return on equity of 4.82% and a negative net margin of 0.49%. The business had revenue of $90.94 million for the quarter, compared to the consensus estimate of $98.75 million. On average, equities research analysts predict that SMTC will post -0.23 EPS for the current year.

In related news, CEO Edward J. Smith acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $3.37 per share, with a total value of $67,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 34.50% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in SMTX. River & Mercantile Asset Management LLP purchased a new stake in shares of SMTC in the second quarter valued at approximately $1,067,000. BNP Paribas Arbitrage SA acquired a new stake in shares of SMTC in the second quarter worth approximately $86,000. Ridgewood Investments LLC boosted its stake in SMTC by 39.1% during the second quarter. Ridgewood Investments LLC now owns 20,307 shares of the technology company’s stock worth $78,000 after buying an additional 5,707 shares during the last quarter. Finally, Wynnefield Capital Inc. boosted its stake in SMTC by 12.2% during the second quarter. Wynnefield Capital Inc. now owns 1,972,360 shares of the technology company’s stock worth $7,613,000 after buying an additional 214,386 shares during the last quarter. Hedge funds and other institutional investors own 14.12% of the company’s stock.

About SMTC

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.

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