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Investment analysts at Northland Securities hoisted their target price on shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) from $25.00 to $30.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 31.00% from the stock’s previous close.

A number of other analysts have also recently weighed in on SIMO. Analysts at Standpoint Research downgraded shares of Silicon Motion Technology Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday. Separately, analysts at B. Riley raised their price target on shares of Silicon Motion Technology Corp. from $24.50 to $27.50 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Silicon Motion Technology Corp. from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 10th. They now have a $23.40 price target on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Silicon Motion Technology Corp. currently has a consensus rating of “Buy” and an average target price of $24.99.

Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) traded up 1.70% during mid-day trading on Tuesday, hitting $23.29. The stock had a trading volume of 893,632 shares. Silicon Motion Technology Corp. has a 52-week low of $10.60 and a 52-week high of $23.97. The stock has a 50-day moving average of $20.72 and a 200-day moving average of $17.52. The company has a market cap of $772.8 million and a price-to-earnings ratio of 30.13.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The company had revenue of $69.41 million for the quarter, compared to the consensus estimate of $62.90 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, analysts predict that Silicon Motion Technology Corp. will post $1.28 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 20th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.62%.

Silicon Motion Technology Corporation (NASDAQ:SIMO) is a holding company.

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