Silicon Motion Technology (NASDAQ:SIMO)‘s stock had its “neutral” rating reiterated by equities researchers at Susquehanna Bancshares in a research report issued to clients and investors on Tuesday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Silicon Motion Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Nomura downgraded Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 target price for the company. in a research report on Wednesday, January 10th. UBS Group downgraded Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $57.00 target price (up previously from $54.00) on shares of Silicon Motion Technology in a research report on Monday, October 9th. Finally, Summit Redstone upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. Silicon Motion Technology has a consensus rating of “Buy” and a consensus target price of $57.23.

Shares of Silicon Motion Technology (SIMO) opened at $50.70 on Tuesday. The firm has a market capitalization of $1,790.00, a price-to-earnings ratio of 19.80 and a beta of 0.66. Silicon Motion Technology has a 52-week low of $37.37 and a 52-week high of $56.51.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $127.24 million. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The firm’s quarterly revenue was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. equities analysts forecast that Silicon Motion Technology will post 2.31 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIMO. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Silicon Motion Technology by 5.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,417 shares of the semiconductor producer’s stock worth $103,000 after acquiring an additional 119 shares in the last quarter. Genesee Valley Trust Co. increased its holdings in shares of Silicon Motion Technology by 2.1% in the second quarter. Genesee Valley Trust Co. now owns 6,840 shares of the semiconductor producer’s stock worth $327,000 after acquiring an additional 140 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Silicon Motion Technology by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 6,959 shares of the semiconductor producer’s stock worth $336,000 after acquiring an additional 206 shares in the last quarter. State Street Corp increased its holdings in shares of Silicon Motion Technology by 0.5% in the first quarter. State Street Corp now owns 42,744 shares of the semiconductor producer’s stock worth $1,659,000 after acquiring an additional 230 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Silicon Motion Technology by 4.7% in the first quarter. Sei Investments Co. now owns 6,106 shares of the semiconductor producer’s stock worth $286,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

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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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