Q3 2018 EPS Estimates for Silicon Motion Technology Corp. (SIMO) Increased by B. Riley

Silicon Motion Technology Corp. (NASDAQ:SIMO) – Analysts at B. Riley lifted their Q3 2018 earnings per share (EPS) estimates for shares of Silicon Motion Technology in a research report issued to clients and investors on Wednesday. B. Riley analyst M. Crawford now anticipates that the semiconductor producer will post earnings of $0.88 per share for the quarter, up from their prior forecast of $0.86. B. Riley currently has a “Buy” rating and a $68.75 target price on the stock.

Other equities research analysts also recently issued reports about the stock. Nomura downgraded shares of Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 target price for the company. in a research note on Wednesday, January 10th. Zacks Investment Research downgraded shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. ValuEngine upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Summit Redstone upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, KeyCorp raised their target price on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Silicon Motion Technology currently has a consensus rating of “Buy” and an average price target of $56.56.

Shares of Silicon Motion Technology (NASDAQ:SIMO) traded up $0.63 during mid-day trading on Friday, reaching $44.04. 209,221 shares of the company traded hands, compared to its average volume of 761,492. The stock has a market capitalization of $1,609.90, a price-to-earnings ratio of 21.60 and a beta of 0.46. Silicon Motion Technology has a 12 month low of $39.91 and a 12 month high of $56.51.

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 paid 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 payout ratio is currently 42.79%.

Large investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter worth $101,000. Advisors Preferred LLC lifted its position in shares of Silicon Motion Technology by 451.0% during the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock worth $128,000 after purchasing an additional 2,183 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Silicon Motion Technology during the third quarter worth $251,000. Virtu KCG Holdings LLC lifted its position in shares of Silicon Motion Technology by 25.3% during the second quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock worth $278,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Silicon Motion Technology by 23.4% during the second quarter. Advisor Group Inc. now owns 6,167 shares of the semiconductor producer’s stock worth $297,000 after purchasing an additional 1,171 shares in the last quarter. Institutional investors and hedge funds own 82.87% 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.

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