Topeka Capital Markets Increases Silicon Motion Technology Price Target to $16.00 (SIMO)
Equities research analysts at Topeka Capital Markets raised their price objective on shares of Silicon Motion Technology (NASDAQ:SIMO) from $13.50 to $16.00 in a research note issued to investors on Friday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Topeka Capital Markets’ target price would indicate a potential upside of 21.30% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 28th. They now have a $11.40 price target on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.13.
Silicon Motion Technology (NASDAQ:SIMO) traded up 0.30% during mid-day trading on Friday, hitting $13.19. The stock had a trading volume of 521,330 shares. Silicon Motion Technology has a 1-year low of $9.90 and a 1-year high of $16.19. The stock’s 50-day moving average is $11.73 and its 200-day moving average is $11.29. The company has a market cap of $437.9 million and a price-to-earnings ratio of 12.64.
Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.01. The company had revenue of $58.32 million for the quarter, compared to the consensus estimate of $58.46 million. During the same quarter last year, the company posted $0.42 earnings per share. Silicon Motion Technology’s revenue was down 16.3% compared to the same quarter last year. Analysts expect that Silicon Motion Technology will post $0.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 8th. Investors of record on Friday, November 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.55%.
Silicon Motion Technology Corporation (NASDAQ:SIMO) is a fabless semiconductor company that designs, develops and markets semiconductor solutions for the multimedia consumer electronics market.
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