Silicon Motion Technology Price Target Increased to $20.00 by Analysts at Northland Securities (SIMO)
Investment analysts at Northland Securities boosted their price objective on shares of Silicon Motion Technology (NASDAQ:SIMO) from $15.00 to $20.00 in a note issued to investors on Tuesday, American Banking News.com reports. Northland Securities’ price target indicates a potential upside of 34.41% from the stock’s previous close.
Silicon Motion Technology (NASDAQ:SIMO) traded up 15.46% during mid-day trading on Tuesday, hitting $17.1801. The stock had a trading volume of 2,005,914 shares. Silicon Motion Technology has a one year low of $9.90 and a one year high of $16.19. The stock has a 50-day moving average of $14.37 and a 200-day moving average of $12.78. The company has a market cap of $564.9 million and a P/E ratio of 16.89.
Silicon Motion Technology (NASDAQ:SIMO) last released its earnings data on Tuesday, January 28th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.09. The company had revenue of $52.49 million for the quarter, compared to the consensus estimate of $51.82 million. During the same quarter last year, the company posted $0.36 earnings per share. Silicon Motion Technology’s revenue was down 25.7% compared to the same quarter last year. Analysts expect that Silicon Motion Technology will post $1.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 25th. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.03%.
A number of other analysts have also recently weighed in on SIMO. Analysts at Topeka Capital Markets raised their price target on shares of Silicon Motion Technology from $16.00 to $20.00 in a research note to investors on Tuesday. Separately, analysts at Northland Capital Partners raised their price target on shares of Silicon Motion Technology from $15.00 to $20.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Silicon Motion Technology from $18.00 to $20.00 in a research note to investors on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Silicon Motion Technology currently has a consensus rating of “Buy” and a consensus target price of $19.49.
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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