Stock of the Day: Is Buying 52-Week Stock Like Semiconductor Manufacturing Int’l (ADR) a Winning Strategy?

Stock of the Day: Is Buying 52 Week Stock Like Semiconductor Manufacturing Int'l (ADR) a Winning Strategy?

The stock of Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) hit a new 52-week high and has $9.72 target or 40.00% above today’s $6.94 share price. The 8 months bullish chart indicates low risk for the $6.45 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $9.72 price target is reached, the company will be worth $2.58 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $6.94 per share. It is up 57.37% since April 5, 2016 and is uptrending. It has outperformed by 55.41% the S&P500.

Analysts await Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) to report earnings on November, 8. They expect $0.11 EPS, up 10.00% or $0.01 from last year’s $0.1 per share. SMI’s profit will be $102.23M for 15.77 P/E if the $0.11 EPS becomes a reality. After $0.11 actual EPS reported by Semiconductor Manufacturing Int’l (ADR) for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) Ratings Coverage

Out of 3 analysts covering Semiconductor Manufacturing Int’l (NYSE:SMI), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Semiconductor Manufacturing Int’l has been the topic of 4 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock has “Underperform” rating given by Bank of America on Wednesday, August 12. The firm earned “Outperform” rating on Thursday, August 27 by Bernstein. The stock has “Overweight” rating given by JP Morgan on Monday, February 22. The rating was upgraded by Citigroup to “Buy” on Friday, August 12.

According to Zacks Investment Research, “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.”

More recent Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Also Fool.com published the news titled: “Is Taiwan Semiconductor Mfg. Co. Ltd. Stock a Buy?” on February 16, 2016. Fool.com‘s news article titled: “Is This Taiwan Semiconductor Mfg. Co. Ltd. Risk Factor Playing Out?” with publication date: March 31, 2015 was also an interesting one.

SMI Company Profile

Semiconductor Manufacturing International Corporation (SMIC), incorporated on April 3, 2000, is engaged in the computer-aided design, manufacturing, testing, packaging, and trading of integrated circuits (ICs) and other semiconductor services, as well as designing and manufacturing semiconductor masks. The Firm provides IC foundry and technology services at 0.35-micron to 28-nanometer. In addition to wafer fabrication, its service offerings include a portfolio consisting of IC design libraries, circuit design blocks, design support, mask-making, wafer probing and gold/solder bumping. The Firm makes silicon wafers based on creates provided by its clients or third party designers.

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