Silicon Motion Technology (NASDAQ:SIMO) Upgraded at Wall Street Zen

Silicon Motion Technology (NASDAQ:SIMO) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

SIMO has been the subject of a number of other research reports. Roth Mkm set a $140.00 target price on shares of Silicon Motion Technology and gave the company a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Silicon Motion Technology in a research report on Monday, December 29th. Needham & Company LLC increased their price target on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Susquehanna boosted their price objective on Silicon Motion Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their target price on Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $132.50.

Silicon Motion Technology Trading Down 1.5%

NASDAQ SIMO opened at $136.28 on Friday. The firm has a market capitalization of $4.63 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 0.95 and a beta of 1.06. The business’s 50-day moving average price is $107.48 and its two-hundred day moving average price is $94.28. Silicon Motion Technology has a 12 month low of $37.21 and a 12 month high of $144.68.

Hedge Funds Weigh In On Silicon Motion Technology

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