Silicon Motion Technology Corp. (SIMO) Receives Average Recommendation of “Buy” from Brokerages

Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have earned an average rating of “Buy” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $56.65.

SIMO has been the subject of several analyst reports. Zacks Investment Research upgraded Silicon Motion Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Loop Capital boosted their price objective on Silicon Motion Technology from $51.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $57.00 price objective (up from $54.00) on shares of Silicon Motion Technology in a research report on Monday, October 9th. Roth Capital upped their target price on Silicon Motion Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, B. Riley set a $69.00 target price on Silicon Motion Technology and gave the stock a “buy” rating in a research report on Wednesday, October 25th.

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC acquired a new stake in Silicon Motion Technology during the 2nd quarter valued at $20,501,000. Royce & Associates LP raised its stake in Silicon Motion Technology by 78.0% during the 3rd quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock valued at $38,498,000 after purchasing an additional 351,140 shares during the period. Wells Fargo & Company MN raised its stake in Silicon Motion Technology by 236.2% during the 3rd quarter. Wells Fargo & Company MN now owns 197,230 shares of the semiconductor producer’s stock valued at $9,473,000 after purchasing an additional 138,571 shares during the period. Stifel Financial Corp acquired a new stake in Silicon Motion Technology during the 2nd quarter valued at $6,311,000. Finally, Yiheng Capital LLC raised its stake in Silicon Motion Technology by 43.3% during the 3rd quarter. Yiheng Capital LLC now owns 435,301 shares of the semiconductor producer’s stock valued at $20,908,000 after purchasing an additional 131,515 shares during the period. Institutional investors own 82.95% of the company’s stock.

Silicon Motion Technology (SIMO) opened at $49.29 on Tuesday. The company has a market capitalization of $1,740.00, a P/E ratio of 19.25 and a beta of 0.66. Silicon Motion Technology has a fifty-two week low of $37.37 and a fifty-two week high of $56.51.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business 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 business’s revenue was down 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. sell-side analysts predict that Silicon Motion Technology will post 2.31 EPS for the current fiscal year.

The business also recently disclosed a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be given a dividend of $0.298 per share. The ex-dividend date is Friday, February 9th. This represents a dividend yield of 2.12%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 34.77%.

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Silicon Motion Technology Company Profile

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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