Smith Micro Software (NASDAQ:SMSI) Raised to Hold at Zacks Investment Research

Smith Micro Software (NASDAQ:SMSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Smith Micro Software, Inc. develops and sells communications software for personal and business use. The company’s objective is to enhance human interaction by giving users the ability to communicate through multimedia technologies over analog and digital platforms. Smith Micro’s products enable personal communication through telephony, fax, multimedia email, data, paging, video security and video conferencing. “

Several other research firms have also commented on SMSI. ValuEngine lowered shares of Smith Micro Software from a “sell” rating to a “strong sell” rating in a research note on Thursday. TheStreet lowered shares of Smith Micro Software from a “b-” rating to a “c+” rating in a research note on Monday, May 11th. Finally, B. Riley decreased their target price on shares of Smith Micro Software from $9.00 to $7.50 and set a “buy” rating for the company in a report on Monday, April 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.75.

Shares of SMSI traded up $0.10 during trading hours on Friday, reaching $4.47. 678,436 shares of the company traded hands, compared to its average volume of 749,814. The company’s fifty day moving average price is $4.44 and its two-hundred day moving average price is $4.68. The company has a market capitalization of $185.15 million, a price-to-earnings ratio of 13.55 and a beta of 0.71. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 0.10. Smith Micro Software has a 12 month low of $2.95 and a 12 month high of $7.15.

Smith Micro Software (NASDAQ:SMSI) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $13.32 million for the quarter, compared to analyst estimates of $12.43 million. Smith Micro Software had a net margin of 26.37% and a return on equity of 30.81%. On average, analysts expect that Smith Micro Software will post 0.2 EPS for the current year.

In other news, CFO Timothy C. Huffmyer sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.92, for a total transaction of $78,720.00. Following the completion of the transaction, the chief financial officer now directly owns 304,733 shares of the company’s stock, valued at $1,499,286.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas G. Campbell sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.85, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 47,000 shares of the company’s stock, valued at $227,950. The disclosure for this sale can be found here. 24.79% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in shares of Smith Micro Software by 220.3% during the first quarter. Citigroup Inc. now owns 10,065 shares of the software maker’s stock valued at $42,000 after purchasing an additional 6,923 shares during the last quarter. Blair William & Co. IL bought a new stake in Smith Micro Software during the first quarter valued at approximately $57,000. Yorktown Management & Research Co Inc bought a new stake in Smith Micro Software during the first quarter valued at approximately $63,000. Paloma Partners Management Co bought a new stake in Smith Micro Software during the first quarter valued at approximately $69,000. Finally, Navellier & Associates Inc bought a new stake in Smith Micro Software during the first quarter valued at approximately $70,000. 21.71% of the stock is owned by hedge funds and other institutional investors.

Smith Micro Software Company Profile

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

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