Silicon Motion Technology (NASDAQ:SIMO) Price Target Raised to $155.00

Silicon Motion Technology (NASDAQ:SIMO) had its price objective increased by Needham & Company LLC from $125.00 to $155.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor producer’s stock.

Several other equities analysts have also commented on the company. Zacks Research lowered Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. B. Riley Financial upped their price objective on shares of Silicon Motion Technology from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, January 12th. William Blair began coverage on shares of Silicon Motion Technology in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Wedbush set a $120.00 target price on shares of Silicon Motion Technology in a report on Monday, November 3rd. Finally, Roth Mkm set a $140.00 price target on shares of Silicon Motion Technology and gave the stock a “buy” rating in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.50.

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $128.06 on Thursday. Silicon Motion Technology has a fifty-two week low of $37.21 and a fifty-two week high of $133.78. The company has a market capitalization of $4.35 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The stock has a fifty day moving average of $102.84 and a two-hundred day moving average of $92.22.

Institutional Investors Weigh In On Silicon Motion Technology

Several institutional investors have recently bought and sold shares of SIMO. Brown Brothers Harriman & Co. purchased a new position in shares of Silicon Motion Technology in the 3rd quarter valued at $26,000. WealthCollab LLC increased its holdings in Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after purchasing an additional 151 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Silicon Motion Technology by 169.4% in 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 purchased a new position in Silicon Motion Technology in the fourth quarter valued at about $71,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Silicon Motion Technology during the second quarter worth about $75,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

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.