NEW YORK (TheStreet) -- Chinese semiconductor foundry Semiconductor Manufacturing International Corporation (SMI), one of the world's largest, tanked on Tuesday after posting fourth-quarter revenue lower than expected.

By market close, shares were down 19.2% to $4.29. Trading volume of 1.1 million was nearly four times its three-month daily average.

In the three months to December, the Shanghai-based business recorded revenue of $491.8 million, up 1.2% from a year earlier but down 7.9% from a quarter earlier. Analysts surveyed by Thomson Reuters had expected revenue of $501.19 million.

For the full year, sales of $2.07 billion were lower than consensus of $2.08 billion.

Quarterly and full-year net income of 2 cents and 27 cents a share, respectively, came in as analysts expected.

First-quarter revenue is expected be fall between 5% and 9% quarter over quarter to a range of $440 million to $460 million.

TheStreet Ratings team rates SEMICONDUCTOR MFG INTL CORP as a Hold with a ratings score of C-. The team has this to say about their recommendation:

"We rate SEMICONDUCTOR MFG INTL CORP (SMI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."