Semiconductor Manufacturing International Corporation (SMI) Trading Down 6.7%

Semiconductor Manufacturing International Corporation (NYSE:SMI) traded down 6.7% during trading on Monday . The stock traded as low as $7.08 and last traded at $7.11. 650,400 shares were traded during trading, an increase of 149% from the average session volume of 261,126 shares. The stock had previously closed at $7.62.

Several equities research analysts have commented on the company. Zacks Investment Research lowered Semiconductor Manufacturing International Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. BidaskClub lowered Semiconductor Manufacturing International Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Mizuho lowered Semiconductor Manufacturing International Corporation from a “buy” rating to an “underperform” rating in a research note on Monday, October 16th. Credit Suisse Group lowered Semiconductor Manufacturing International Corporation from a “neutral” rating to an “underperform” rating in a research note on Tuesday, November 7th. Finally, ValuEngine upgraded Semiconductor Manufacturing International Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Ten investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Sell”.

The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. The company has a market cap of $6,614.61, a PE ratio of 28.44, a price-to-earnings-growth ratio of 3.73 and a beta of 0.40.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of Semiconductor Manufacturing International Corporation in the second quarter worth about $1,211,000. First Trust Advisors LP purchased a new stake in shares of Semiconductor Manufacturing International Corporation in the second quarter worth about $1,976,000. Citigroup Inc. purchased a new stake in shares of Semiconductor Manufacturing International Corporation in the second quarter worth about $745,000. Bank of America Corp DE boosted its position in shares of Semiconductor Manufacturing International Corporation by 8.0% in the first quarter. Bank of America Corp DE now owns 46,484 shares of the semiconductor company’s stock worth $292,000 after buying an additional 3,437 shares during the period. Finally, UBS Group AG boosted its position in shares of Semiconductor Manufacturing International Corporation by 172.5% in the first quarter. UBS Group AG now owns 64,161 shares of the semiconductor company’s stock worth $403,000 after buying an additional 40,616 shares during the period. 0.67% of the stock is owned by institutional investors.

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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.

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