Several brokerages have updated their recommendations and price targets on shares of Silicon Motion Technology Corp. (NASDAQ: SIMO) in the last few weeks:

  • 8/8/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at Lake Street Capital. They now have a $50.00 price target on the stock, down previously from $56.00.
  • 8/7/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $68.75 price target on the stock.
  • 8/2/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $68.75 price target on the stock.
  • 8/2/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at Lake Street Capital. They now have a $50.00 price target on the stock, down previously from $56.00.
  • 8/2/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $60.00 price target on the stock, down previously from $67.00.
  • 8/1/2017 – Silicon Motion Technology Corp. had its price target lowered by analysts at Roth Capital from $60.00 to $55.00. They now have a “buy” rating on the stock.
  • 7/25/2017 – Silicon Motion Technology Corp. was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/22/2017 – Silicon Motion Technology Corp. had its “hold” rating reaffirmed by analysts at Summit Redstone.
  • 7/15/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $68.75 price target on the stock.
  • 7/10/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $68.75 price target on the stock.
  • 7/10/2017 – Silicon Motion Technology Corp. had its price target lowered by analysts at Loop Capital from $61.00 to $54.00. They now have a “buy” rating on the stock.
  • 7/8/2017 – Silicon Motion Technology Corp. was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/7/2017 – Silicon Motion Technology Corp. had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $54.00 price target on the stock, down previously from $56.00. They wrote, “SIMO lowered its 2Q17 revenue range to slightly below” the previous range of $134-$140. The culprit remains ongoing NAND tightness adversely affecting the client SSD segment. Due to the tightness in NAND as a result of the 2D-3D NAND transition, the major flash OEMs are prioritizing enterprise and datacenter allocation over client SSDs, which is driving up the pricing of client SSDs. This phenomenon has been occurring since the beginning of the year and our view that it would begin to loosen starting end of June qrt is not bearing out. Thus, with reduced visibility into 2H17, we are lowering our estimates for Sept and December.””
  • 7/4/2017 – Silicon Motion Technology Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Silicon Motion continues to benefit from strategic product launches. Additionally, continuing investments on product development will drive growth. The full-year 2017 guidance is positive. We note that the company has underperformed the broader market on a year-to-date basis. Meanwhile, estimates have been stable lately ahead of the Q2 earnings release. The company has positive record of earnings surprises in recent quarters. We expect share price momentum to continue driven by significant improvement in NAND flash supply in second-half 2017. Moreover, strategic product launches and strong commitment toward R&D activities are key catalysts.”
  • 6/21/2017 – Silicon Motion Technology Corp. had its “overweight” rating reaffirmed by analysts at Pacific Crest. They now have a $62.00 price target on the stock.
  • 6/16/2017 – Silicon Motion Technology Corp. was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

Silicon Motion Technology Corp. (SIMO) traded down 0.45% during mid-day trading on Tuesday, reaching $42.38. 310,988 shares of the company’s stock were exchanged. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 13.59 and a beta of 0.68. Silicon Motion Technology Corp. has a 12 month low of $37.37 and a 12 month high of $56.25. The stock has a 50-day moving average of $45.82 and a 200-day moving average of $45.79.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last issued its quarterly earnings data on Monday, July 31st. The semiconductor producer reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $132.70 million during the quarter, compared to the consensus estimate of $132.92 million. Silicon Motion Technology Corp. had a net margin of 18.47% and a return on equity of 20.64%. Silicon Motion Technology Corp.’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. Analysts anticipate that Silicon Motion Technology Corp. will post $2.67 earnings per share for the current year.

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

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