Silicon Motion Technology Corporation (NASDAQ:SIMO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $111.25.

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Silicon Motion Technology in a research note on Monday, November 3rd. B. Riley upped their target price on Silicon Motion Technology from $105.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Silicon Motion Technology in a report on Monday. Wedbush set a $120.00 price objective on Silicon Motion Technology in a research report on Monday, November 3rd. Finally, Zacks Research lowered Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Penn Capital Management Company LLC increased its stake in shares of Silicon Motion Technology by 2.3% during the third quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer’s stock valued at $552,000 after acquiring an additional 132 shares during the period. Orion Porfolio Solutions LLC boosted its stake in Silicon Motion Technology by 0.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 17,733 shares of the semiconductor producer’s stock valued at $1,333,000 after purchasing an additional 159 shares in the last quarter. Hardy Reed LLC increased its position in shares of Silicon Motion Technology by 3.3% during the 3rd quarter. Hardy Reed LLC now owns 4,956 shares of the semiconductor producer’s stock valued at $470,000 after purchasing an additional 159 shares during the period. US Bancorp DE raised its stake in shares of Silicon Motion Technology by 1.8% in the 3rd quarter. US Bancorp DE now owns 12,532 shares of the semiconductor producer’s stock worth $1,188,000 after buying an additional 226 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Silicon Motion Technology by 23.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,203 shares of the semiconductor producer’s stock worth $114,000 after buying an additional 227 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO opened at $88.75 on Friday. The company’s fifty day moving average is $91.26 and its two-hundred day moving average is $83.04. Silicon Motion Technology has a 1-year low of $37.21 and a 1-year high of $106.60. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10.

Silicon Motion Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 6th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Silicon Motion Technology’s dividend payout ratio is currently 68.38%.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.