Silicon Motion Technology Corp. Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:SIMO)
Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have been given an average recommendation of “Buy” by the ten analysts that are covering the stock, Stock Ratings Network reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.00.
SIMO has been the subject of a number of recent research reports. 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 27.03 on Tuesday. Silicon Motion Technology Corp. has a 52-week low of $10.85 and a 52-week high of $27.22. The stock has a 50-day moving average of $23.35 and a 200-day moving average of $18.51. The company has a market cap of $911.9 million and a price-to-earnings ratio of 27.08.
Silicon Motion Technology Corp. (NASDAQ:SIMO) last released its earnings data 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. On average, analysts predict that Silicon Motion Technology Corp. will post $1.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 20th. Investors 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 2.22%. The ex-dividend date is Friday, August 8th.
Silicon Motion Technology Corporation (NASDAQ:SIMO) is a holding company.
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