Welcome to our dedicated page for SMTX news (Ticker: SMTX), a resource for investors and traders seeking the latest updates and insights on SMTX stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SMTX's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SMTX's position in the market.
SMTC Corporation has successfully completed its acquisition by H.I.G. Capital, transitioning into a private company. Stockholders will receive $6.044 per share in cash, with trading on Nasdaq ceasing. This move is expected to enhance SMTC's resources for expanding its integrated manufacturing services across high-growth markets. Ed Smith continues as President and CEO, while H.I.G. expresses commitment to supporting the company's development. The acquisition follows stockholder approval on March 31, 2021, indicating a significant shift in SMTC's operational strategy.
SMTC Corporation (Nasdaq: SMTX) announced that its shareholders have adopted a definitive merger agreement with an affiliate of H.I.G. Capital. The merger is anticipated to close during the week of April 5, 2021, subject to customary closing conditions. This strategic move aims to strengthen SMTC's position as a global electronics manufacturing services provider. Founded in 1985, SMTC has a broad manufacturing footprint across the U.S. and Mexico, emphasizing integrated services for original equipment manufacturers. Details of the merger were disclosed in prior SEC filings.
SMTC Corporation (Nasdaq: SMTX) announced its Q4 and full-year 2020 financial results. Q4 revenue reached $101.3 million, a 12.3% increase year-over-year. However, the company reported a net loss of $3.6 million, compared to a net income of $1.0 million in Q4 2019. Full-year revenue was $386.5 million, up 3.8%, with an adjusted EPS of $0.42, up 58.3% from the previous year. Management highlighted resilience during the pandemic while undertaking restructuring initiatives for operational efficiency.
SMTC Corporation (Nasdaq: SMTX) has entered into a definitive merger agreement with H.I.G. Capital, wherein H.I.G. will acquire all outstanding shares for $6.044 per share in cash. This acquisition represents a 22% premium over SMTC's closing price on December 31, 2020, and a 66% premium over the share price 60 days prior. The merger, unanimously approved by SMTC's Board of Directors, is expected to close by Q2 2021, subject to stockholder approval and regulatory clearance.
SMTC Corporation (Nasdaq: SMTX) has announced its plan to manufacture Aura V ventilators for IPM Chirana amid the rising COVID-19 cases. The ventilators, designed for intensive care units, will be produced at SMTC's facility in Boston, which holds various industry certifications. Ed Smith, the President and CEO of SMTC, expressed pride in supporting the medical community through this initiative. IPM Chirana selected SMTC for its quality and rapid delivery capabilities, which are critical for emergency medical equipment production.
SMTC Corporation (NASDAQ: SMTX) will attend the 11th Annual Craig-Hallum Alpha Select Conference virtually on November 17, 2020. CEO Ed Smith and CFO Steve Waszak will engage in one-on-one meetings to discuss business updates and opportunities. Interested parties can schedule teleconference meetings through Craig-Hallum representatives or contact Peter Seltzberg at Darrow Associates for more information. Founded in 1985, SMTC is a leading electronics manufacturing services provider with extensive capabilities across various industries, including Aerospace, Defense, and Medical.
SMTC Corporation (Nasdaq: SMTX), a leader in electronics manufacturing services, will participate in the 2020 Southwest IDEAS Investor Conference on November 18-19, 2020. The President and CEO, Ed Smith, along with CFO Steve Waszak, will host one-on-one meetings via teleconference on November 19 to discuss business opportunities. Investors can schedule meetings through the conference's platform or contact Peter Seltzberg at Darrow Associates. Additionally, a public webcast will be available on the Investor Relations Calendar page at 7 am CT on November 18.
SMTC Corporation (Nasdaq: SMTX) reported Q3 2020 revenue of $99.5 million, marking a 10.1% increase quarter-over-quarter and a 12.3% rise year-over-year. The company's net income stood at $1.2 million, with an adjusted EPS of $0.13. SMTC secured $46 million in new awards during the quarter. Looking ahead, 2021 revenue is projected between $430 million and $450 million, and adjusted EBITDA between $33 million and $37 million. The firm maintains a healthy debt-to-adjusted EBITDA ratio of 2.55.
SMTC Corporation (Nasdaq: SMTX), a global electronics manufacturing services provider, will announce its third quarter 2020 results on November 4, 2020, after market close. A conference call to discuss these results is scheduled for November 5, 2020, at 8:30 am ET. Investors can access the call via the SMTC Investor Relations website or by telephone. Founded in 1985, SMTC operates over 50 manufacturing lines in the U.S. and Mexico, offering end-to-end services across various industries.
SMTC Corporation (Nasdaq: SMTX) has announced that its Chief Operating Officer, Rich Fitzgerald, has been appointed to the Executive Committee of the Association of Manufacturing Excellence (AME) Board of Directors. Fitzgerald has been with SMTC since February 2020 and has extensive experience in supply chain and operations management. His new role aims to enhance SMTC's influence in manufacturing practices. The AME promotes operational improvements through workshops and networking among its 4,000 members. SMTC specializes in global electronics manufacturing and provides comprehensive EMS services.
