Silicon Motion Technology (NASDAQ:SIMO) Price Target Raised to $150.00

Silicon Motion Technology (NASDAQ:SIMO) had its price objective hoisted by Wedbush from $130.00 to $150.00 in a report issued on Thursday, Marketbeat Ratings reports. They currently have an outperform rating on the semiconductor producer’s stock.

SIMO has been the topic of several other research reports. William Blair assumed coverage on shares of Silicon Motion Technology in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Susquehanna increased 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. Needham & Company LLC raised their price target on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Roth Mkm set a $140.00 price objective on shares of Silicon Motion Technology and gave the stock a “buy” rating in a report on Wednesday. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Silicon Motion Technology has an average rating of “Moderate Buy” and an average target price of $132.50.

Silicon Motion Technology Trading Up 1.5%

Shares of NASDAQ:SIMO opened at $128.06 on Thursday. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 0.97 and a beta of 1.06. Silicon Motion Technology has a 1 year low of $37.21 and a 1 year high of $133.78. The business has a fifty day simple moving average of $102.84 and a 200 day simple moving average of $92.22.

Institutional Investors Weigh In On Silicon Motion Technology

Hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new position in Silicon Motion Technology during the third quarter valued at about $26,000. WealthCollab LLC grew its holdings in shares of Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after purchasing an additional 151 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 366 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in shares of Silicon Motion Technology during the fourth quarter valued at approximately $71,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Silicon Motion Technology in the third quarter valued at $79,000. Institutional investors own 78.02% of the company’s stock.

About Silicon Motion Technology

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.