Silicon Motion Technology (NASDAQ:SIMO) had its target price boosted by KeyCorp from $55.00 to $60.00 in a research note issued on Thursday. The firm presently has an “overweight” rating on the semiconductor producer’s stock. KeyCorp’s price objective would indicate a potential upside of 14.85% from the company’s previous close.

Several other equities analysts also recently commented on the company. Summit Redstone raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. BidaskClub raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Northland Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Silicon Motion Technology in a research report on Sunday, October 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 target price on shares of Silicon Motion Technology in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Silicon Motion Technology presently has a consensus rating of “Buy” and a consensus price target of $57.85.

Silicon Motion Technology (SIMO) traded down $0.21 during trading hours on Thursday, reaching $52.24. The company’s stock had a trading volume of 221,200 shares, compared to its average volume of 604,388. Silicon Motion Technology has a 12-month low of $37.37 and a 12-month high of $55.68. The company has a market capitalization of $1,850.00, a price-to-earnings ratio of 19.94 and a beta of 0.65.

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

A number of large investors have recently modified their holdings of the stock. ARGA Investment Management LP grew its position in Silicon Motion Technology by 6.2% during the third quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock worth $88,365,000 after buying an additional 106,900 shares in the last quarter. Investec Asset Management LTD grew its position in Silicon Motion Technology by 46.4% during the second quarter. Investec Asset Management LTD now owns 1,638,818 shares of the semiconductor producer’s stock worth $79,040,000 after buying an additional 519,631 shares in the last quarter. William Blair Investment Management LLC grew its position in Silicon Motion Technology by 170.4% during the second quarter. William Blair Investment Management LLC now owns 947,862 shares of the semiconductor producer’s stock worth $45,715,000 after buying an additional 597,352 shares in the last quarter. Royce & Associates LP grew its position in Silicon Motion Technology by 78.0% during the third quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock worth $38,498,000 after buying an additional 351,140 shares in the last quarter. Finally, Teachers Advisors LLC boosted its holdings in shares of Silicon Motion Technology by 27.9% in the 2nd quarter. Teachers Advisors LLC now owns 787,674 shares of the semiconductor producer’s stock valued at $37,990,000 after purchasing an additional 171,989 shares in the last quarter. 82.84% of the stock is currently owned by institutional investors and hedge funds.

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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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