• Semiconductor Manufacturing International Corporation (SMIC) reported a first-quarter net income of $71.8 million, falling short of the estimated $76.8 million.
• Generated revenue of $1.75 billion surpassed projected revenues of $1.69 billion.
• Factoring in the cost of production, gross margin landed at 13.7%, which is higher than the estimated 11.8%.
• Capital expenditure for the period was a considerable $2.24 billion.
• Research and Development (R&D) expenses were at $188.1 million, more than the anticipated cost of $183.3 million.
• The corporation received 14 buy ratings, neutrally rated by 9 entities, and received 5 sell ratings.
Semiconductor Manufacturing International Corp (SMIC) on Smartkarma
Analyst coverage of Semiconductor Manufacturing International Corp (SMIC) on Smartkarma showcases a mix of sentiments from various independent researchers. William Keating‘s report, “China Semi Foundry: Fierce Competition & Sluggish Rebound In Year Of The Dragon,” highlights SMIC’s Q423 performance and forecasts mid-single-digit growth for FY24 amidst fierce competition and GM pressure.
On the other hand, Patrick Liao‘s analysis, “SMIC (981.HK): The GM Reaches a New Low of 9-11% in 1Q24F, Despite Revenue Growing by 2% QoQ,” points towards a challenging outlook for 1Q24F with an expected decrease in GM despite revenue growth, anticipating a double U-shaped recovery in 2024F driven by mobile phones and smart homes. Scott Foster‘s “SMIC (SEHK: 00981; SSE Star Market: 688981): Back to Reality” report discusses the company’s recent results and the need for recovery amid operational challenges and market pressures.
A look at Semiconductor Manufacturing International Corp (SMIC) Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
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Based on the Smartkarma Smart Scores assessment, Semiconductor Manufacturing International Corp (SMIC) shows a positive long-term outlook. With a strong Value score of 5, the company is deemed to have favorable intrinsic value relative to its stock price. This suggests potential for investors looking for undervalued opportunities. Additionally, SMIC scores high in Growth with a rating of 4, indicating promising growth prospects in the future. Coupled with a Resilience score of 3, the company demonstrates a moderate ability to withstand economic downturns or industry challenges.
However, it is important to note that SMIC has a lower Dividend score of 1, implying a weaker dividend-paying capacity. In terms of Momentum, the company received a score of 3, suggesting a neutral stance in terms of market momentum. Overall, Semiconductor Manufacturing International Corp presents an attractive investment opportunity based on its strong value and growth potential within the semiconductor industry.
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Summary: Semiconductor Manufacturing International Corporation operates a semiconductor foundry, providing integrated circuit foundry and technology services worldwide, including testing, development, design, manufacturing, packaging, and sale of integrated circuits.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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