Zacks Investment Research Lowers Semiconductor Manufacturing International (OTCMKTS:SMICY) to Hold

Zacks Investment Research downgraded shares of Semiconductor Manufacturing International (OTCMKTS:SMICY) from a strong-buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

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. “

Shares of OTCMKTS:SMICY traded down $0.09 during mid-day trading on Wednesday, reaching $5.21. The company had a trading volume of 7,202 shares, compared to its average volume of 110,588. The company has a current ratio of 2.15, a quick ratio of 1.92 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $5.25 billion, a PE ratio of 34.73 and a beta of 0.55. Semiconductor Manufacturing International has a one year low of $3.74 and a one year high of $5.96.

Semiconductor Manufacturing International (OTCMKTS:SMICY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $790.88 million for the quarter, compared to analysts’ expectations of $792.05 million. Semiconductor Manufacturing International had a net margin of 1.84% and a return on equity of 0.66%. Research analysts predict that Semiconductor Manufacturing International will post 0.03 earnings per share for the current year.

Semiconductor Manufacturing International Company Profile

Semiconductor Manufacturing International Corporation, an investment holding company, engages in the computer-aided design, manufacture, testing, packaging, and trading of integrated circuits (IC) and other semiconductor services. It is also involved in wafer manufacturing, wafer probing and bumping, technology development, design service, mask manufacturing, assembly and final testing of integrated circuits; and sales of self-manufactured products.

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