SMTC (NASDAQ:SMTX) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

SMTC (NASDAQ:SMTX) issued its quarterly earnings data on Monday. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.09), Fidelity Earnings reports. SMTC had a negative net margin of 0.49% and a positive return on equity of 4.82%. The business had revenue of $88.68 million during the quarter, compared to analyst estimates of $77.00 million.

NASDAQ SMTX traded up $0.20 during trading on Tuesday, hitting $2.60. The stock had a trading volume of 226,700 shares, compared to its average volume of 116,596. The company has a market capitalization of $65.85 million, a PE ratio of 43.33 and a beta of 0.67. The company’s 50-day moving average price is $2.24 and its two-hundred day moving average price is $3.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.01 and a current ratio of 1.47. SMTC has a 12 month low of $2.02 and a 12 month high of $5.98.

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In other news, CEO Edward J. Smith bought 20,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $3.37 per share, for a total transaction of $67,400.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 34.50% of the company’s stock.

Several equities analysts recently issued reports on SMTX shares. Zacks Investment Research upgraded SMTC from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. ValuEngine upgraded SMTC from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. TheStreet upgraded SMTC from a “d+” rating to a “c-” rating in a research note on Monday, July 15th. Finally, Craig Hallum cut their target price on SMTC from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. SMTC presently has a consensus rating of “Buy” and a consensus price target of $6.00.

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.

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