Smith Micro Software (NASDAQ:SMSI) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Smith Micro Software (NASDAQ:SMSI) from a hold rating to a sell rating in a report released on Saturday, 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. “

A number of other equities analysts have also recently weighed in on SMSI. B. Riley decreased their price objective on shares of Smith Micro Software from $9.00 to $7.50 and set a buy rating for the company in a research report on Monday, April 27th. TheStreet cut shares of Smith Micro Software from a b- rating to a c+ rating in a research report on Monday, May 11th. Finally, ValuEngine cut shares of Smith Micro Software from a hold rating to a sell rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $6.75.

NASDAQ:SMSI opened at $4.46 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.55 and a quick ratio of 3.55. The firm has a 50-day moving average of $4.44 and a two-hundred day moving average of $4.68. The stock has a market cap of $183.08 million, a P/E ratio of 13.52 and a beta of 0.71. Smith Micro Software has a 1-year low of $2.95 and a 1-year high of $7.15.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data 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 company had revenue of $13.32 million during the quarter, compared to analysts’ expectations of $12.43 million. Smith Micro Software had a net margin of 26.37% and a return on equity of 30.81%. As a group, equities analysts expect that Smith Micro Software will post 0.2 earnings per share for the current year.

In other Smith Micro Software news, Director Thomas G. Campbell sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.85, for a total value of $72,750.00. Following the transaction, the director now owns 47,000 shares of the company’s stock, valued at $227,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy C. Huffmyer sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 in the company, valued at approximately $1,499,286.36. The disclosure for this sale can be found here. Company insiders own 17.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new position in Smith Micro Software in the first quarter worth about $3,443,000. Acadian Asset Management LLC lifted its holdings in Smith Micro Software by 94.9% in the first quarter. Acadian Asset Management LLC now owns 431,367 shares of the software maker’s stock worth $1,816,000 after acquiring an additional 210,077 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Smith Micro Software in the first quarter valued at approximately $1,362,000. Fuller & Thaler Asset Management Inc. increased its stake in shares of Smith Micro Software by 9.6% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 286,733 shares of the software maker’s stock valued at $1,207,000 after purchasing an additional 25,233 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Smith Micro Software in the first quarter valued at approximately $1,165,000. 21.71% of the stock is currently 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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