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 (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%.
ILLEGAL ACTIVITY NOTICE: This piece was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/23/silicon-motion-technology-corp-simo-receives-average-recommendation-of-buy-from-brokerages.html.
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.
Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.