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

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $132.50.

SIMO has been the subject of a number of research analyst reports. Craig Hallum reissued a “buy” rating and issued a $160.00 price target on shares of Silicon Motion Technology in a research report on Thursday. William Blair initiated coverage on shares of Silicon Motion Technology in a research report on Thursday, January 22nd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Needham & Company LLC upped their price target on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Silicon Motion Technology in a research report on Monday, December 29th.

Silicon Motion Technology Trading Up 1.5%

Shares of Silicon Motion Technology stock opened at $128.06 on Friday. Silicon Motion Technology has a 1 year low of $37.21 and a 1 year high of $133.78. The company has a market cap of $4.35 billion, a P/E ratio of 35.18, a P/E/G ratio of 0.97 and a beta of 1.06. The stock has a 50-day moving average price of $102.84 and a 200 day moving average price of $92.22.

Institutional Investors Weigh In On Silicon Motion Technology

Large investors have recently made changes to their positions in the company. Boston Partners boosted its stake in Silicon Motion Technology by 33.2% during the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after buying an additional 183,458 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Silicon Motion Technology during the 2nd quarter worth about $1,780,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Silicon Motion Technology during the 2nd quarter valued at about $263,000. SG Americas Securities LLC bought a new stake in Silicon Motion Technology in the third quarter valued at about $1,070,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Silicon Motion Technology in the second quarter worth about $288,000. Institutional investors own 78.02% of the company’s stock.

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.