Silicon Motion Technology Corporation (NASDAQ:SIMO) Given Average Rating of “Moderate Buy” by Brokerages

Silicon Motion Technology Corporation (NASDAQ:SIMO) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $113.1250.

Several equities research analysts recently issued reports on SIMO shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Silicon Motion Technology in a report on Monday, December 29th. B. Riley increased their price target on shares of Silicon Motion Technology from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC restated a “buy” rating and issued a $110.00 price objective on shares of Silicon Motion Technology in a report on Monday, November 3rd. Susquehanna boosted their price target on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Finally, Zacks Research cut Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th.

Institutional Investors Weigh In On Silicon Motion Technology

Institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. purchased a new position in shares of Silicon Motion Technology in the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Silicon Motion Technology by 169.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 366 shares during the period. GAMMA Investing LLC lifted its position in Silicon Motion Technology by 118.3% during the second quarter. GAMMA Investing LLC now owns 976 shares of the semiconductor producer’s stock worth $73,000 after buying an additional 529 shares during the period. Raymond James Financial Inc. purchased a new stake in Silicon Motion Technology in the second quarter valued at approximately $75,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Silicon Motion Technology in the 3rd quarter worth $79,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Down 1.5%

Shares of SIMO stock opened at $113.56 on Wednesday. Silicon Motion Technology has a twelve month low of $37.21 and a twelve month high of $123.30. The company’s 50-day moving average price is $92.33 and its 200-day moving average price is $86.79. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 1.28 and a beta of 1.05.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 68.73%.

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.