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January 18, 2006 Stock Pick: SMTC Corporation (SMTX)

Stock Price: $1.68

SMTC Corporation provides advanced electronics manufacturing services to original equipment manufacturers primarily in the industrial, computing, networking, and communications market segments.

For the most recent quarter, the company reported revenue of $64.6 million and net income of $0.8 million, or $0.05 per share. Right now, SMTX is trading at a market cap of $18.25, much less than sales. This company is in the process of being turned around with fourth quarter results still to come. The company expects to remain profitable.

If you take a look at this chart, you will notice that SMTX has been in a trading range since gapping down. Also, notice how SMTX is about to cross the 50 day moving average with the MACD about to go positive. SMTX is about to break out in a classic technical scenario.

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