SMTC (SMTX) Upgraded to C by TheStreet

TheStreet upgraded shares of SMTC (NASDAQ:SMTX) from a d+ rating to a c rating in a research note released on Thursday morning.

Shares of NASDAQ SMTX traded down $0.20 during mid-day trading on Thursday, reaching $3.27. 35,964 shares of the company’s stock were exchanged, compared to its average volume of 37,320. SMTC has a 52-week low of $1.43 and a 52-week high of $3.20.

SMTC (NASDAQ:SMTX) last released its quarterly earnings results on Tuesday, August 7th. The technology company reported ($0.01) earnings per share for the quarter. The firm had revenue of $44.48 million during the quarter.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in SMTC by 15.5% during the 2nd quarter. Renaissance Technologies LLC now owns 371,665 shares of the technology company’s stock worth $1,093,000 after acquiring an additional 49,966 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in SMTC by 33.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 207,326 shares of the technology company’s stock worth $599,000 after acquiring an additional 51,830 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in SMTC during the 2nd quarter worth about $121,000. 16.26% of the stock is currently owned by hedge funds and other institutional investors.

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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