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Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have received a consensus rating of “Buy” from the ten ratings firms that are presently covering the company, Analyst Ratings News reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $27.00.

Several analysts have recently commented on the stock. Analysts at B. Riley raised their price target on shares of Silicon Motion Technology Corp. from $27.50 to $32.00 in a research note on Thursday, July 31st. Separately, analysts at Craig Hallum reiterated a “buy” rating on shares of Silicon Motion Technology Corp. in a research note on Tuesday, July 29th. They now have a $30.00 price target on the stock, up previously from $25.00. Finally, analysts at Topeka Capital Markets raised their price target on shares of Silicon Motion Technology Corp. from $27.00 to $30.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock.

Silicon Motion Technology Corp. (NASDAQ:SIMO) opened at 24.76 on Tuesday. Silicon Motion Technology Corp. has a 52 week low of $10.85 and a 52 week high of $24.86. The stock has a 50-day moving average of $22.44 and a 200-day moving average of $18.23. The company has a market cap of $835.3 million and a price-to-earnings ratio of 25.76.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Analysts expect that Silicon Motion Technology Corp. will post $1.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 20th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, August 8th.

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

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