Semiconductor Manufacturing International Corporation (SMI) Cut to Underperform at Bank of America Corporation

Semiconductor Manufacturing International Corporation (NYSE:SMI) was downgraded by investment analysts at Bank of America Corporation from a “buy” rating to an “underperform” rating in a note issued to investors on Wednesday.

SMI has been the subject of several other research reports. ValuEngine cut shares of Semiconductor Manufacturing International Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. HSBC Holdings PLC cut shares of Semiconductor Manufacturing International Corporation from a “hold” rating to a “reduce” rating in a research note on Wednesday. Sanford C. Bernstein cut shares of Semiconductor Manufacturing International Corporation from a “market perform” rating to an “underperform” rating in a research note on Thursday, August 10th. BNP Paribas cut shares of Semiconductor Manufacturing International Corporation from a “hold” rating to a “reduce” rating in a research note on Wednesday, August 9th. Finally, Daiwa Capital Markets reaffirmed a “hold” rating on shares of Semiconductor Manufacturing International Corporation in a research note on Wednesday. Nine investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Sell”.

Semiconductor Manufacturing International Corporation (SMI) traded down $1.16 on Wednesday, hitting $7.90. 1,759,100 shares of the company traded hands, compared to its average volume of 248,490. Semiconductor Manufacturing International Corporation has a 52-week low of $4.49 and a 52-week high of $9.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.35 and a current ratio of 1.65. The firm has a market cap of $8,428.75, a P/E ratio of 26.65, a PEG ratio of 2.01 and a beta of 0.40.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in shares of Semiconductor Manufacturing International Corporation by 16.9% in the 3rd quarter. First Trust Advisors LP now owns 405,393 shares of the semiconductor company’s stock valued at $2,254,000 after buying an additional 58,753 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Semiconductor Manufacturing International Corporation by 41.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 213,534 shares of the semiconductor company’s stock valued at $1,341,000 after buying an additional 62,416 shares during the period. Bank of Montreal Can purchased a new stake in shares of Semiconductor Manufacturing International Corporation in the 2nd quarter valued at approximately $1,211,000. Citigroup Inc. purchased a new stake in shares of Semiconductor Manufacturing International Corporation in the 2nd quarter valued at approximately $745,000. Finally, UBS Group AG grew its stake in shares of Semiconductor Manufacturing International Corporation by 172.5% in the 1st quarter. UBS Group AG now owns 64,161 shares of the semiconductor company’s stock valued at $403,000 after buying an additional 40,616 shares during the period. 0.68% of the stock is owned by institutional investors.

About Semiconductor Manufacturing International Corporation

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.

Analyst Recommendations for Semiconductor  Manufacturing International Corporation (NYSE:SMI)

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