Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have received a consensus recommendation of “Buy” from the sixteen research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $57.91.

SIMO has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Silicon Motion Technology in a report on Friday, September 22nd. Standpoint Research raised shares of Silicon Motion Technology from a “reduce” rating to a “buy” rating in a report on Wednesday, August 30th. Loop Capital reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Silicon Motion Technology in a report on Tuesday, August 22nd. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 price objective (down previously from $56.00) on shares of Silicon Motion Technology in a report on Tuesday, August 8th. Finally, B. Riley reaffirmed a “buy” rating and issued a $68.75 price objective on shares of Silicon Motion Technology in a report on Monday, August 7th.

Silicon Motion Technology (NASDAQ:SIMO) opened at $51.57 on Monday. Silicon Motion Technology has a 52-week low of $37.37 and a 52-week high of $55.68. The stock has a market cap of $1,821.86, a PE ratio of 19.61 and a beta of 0.64.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $127.24 million. During the same period last year, the firm posted $1.07 EPS. The company’s revenue for the quarter was down 19.8% on a year-over-year basis.

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Thursday, November 9th were paid a dividend of $0.30 per share. This is a boost from Silicon Motion Technology’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, November 8th. This represents a $1.20 annualized dividend and a yield of 2.33%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 35.04%.

A number of institutional investors have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC increased its stake in Silicon Motion Technology by 3.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 6,959 shares of the semiconductor producer’s stock valued at $336,000 after buying an additional 206 shares during the period. Profund Advisors LLC increased its stake in Silicon Motion Technology by 5.2% during the 2nd quarter. Profund Advisors LLC now owns 11,424 shares of the semiconductor producer’s stock valued at $551,000 after buying an additional 560 shares during the period. Wells Fargo & Company MN increased its stake in Silicon Motion Technology by 1.2% during the 2nd quarter. Wells Fargo & Company MN now owns 58,659 shares of the semiconductor producer’s stock valued at $2,829,000 after buying an additional 701 shares during the period. Suffolk Capital Management LLC increased its stake in Silicon Motion Technology by 3.5% during the 2nd quarter. Suffolk Capital Management LLC now owns 31,506 shares of the semiconductor producer’s stock valued at $1,520,000 after buying an additional 1,053 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in Silicon Motion Technology by 5.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 21,157 shares of the semiconductor producer’s stock valued at $1,020,000 after buying an additional 1,119 shares during the period. 82.84% of the stock is currently owned by hedge funds and other institutional investors.

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About Silicon Motion Technology

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.

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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