Silicon Motion Technology Corporation (NASDAQ: SIMO) has recently received a number of price target changes and ratings updates:

  • 10/9/2017 – Silicon Motion Technology Corporation had its price target raised by analysts at Loop Capital from $51.00 to $59.00. They now have a “buy” rating on the stock.
  • 10/9/2017 – Silicon Motion Technology Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $57.00 price target on the stock, up previously from $54.00.
  • 10/3/2017 – Silicon Motion Technology Corporation was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Silicon Motion is gaining from strategic product launches. Additionally, continuing investments on product development will drive growth. Moreover, expanding product portfolio and strong commitment toward R&D activities are key catalysts. However, the company continues to get affected by the NAND supply constraint. The company has noted that NAND supply continues to remain tight, which affected module maker customers, hyperscale customers, and NAND flash partners in the last reported quarter. We note that the stock has underperformed the broader industry on a year-to-date basis.”
  • 9/22/2017 – Silicon Motion Technology Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $54.00 price target on the stock.
  • 8/30/2017 – Silicon Motion Technology Corporation was upgraded by analysts at Standpoint Research from a “reduce” rating to a “buy” rating.
  • 8/22/2017 – Silicon Motion Technology Corporation had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $51.00 price target on the stock.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last released its quarterly earnings results on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.04). The firm had revenue of $132.70 million for the quarter, compared to analyst estimates of $132.92 million. Silicon Motion Technology Corporation had a return on equity of 24.24% and a net margin of 18.91%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS.

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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