Brokerages Set Silicon Motion Technology Co. (NASDAQ:SIMO) Target Price at $87.57

Silicon Motion Technology Co. (NASDAQ:SIMO) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $87.57.

Several analysts recently commented on the company. Craig Hallum raised their price objective on Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. increased their price target on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. B. Riley lifted their price objective on Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC increased their target price on Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Wedbush restated an “outperform” rating and set a $85.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 10th.

Hedge Funds Weigh In On Silicon Motion Technology

Large investors have recently bought and sold shares of the company. Alpine Associates Management Inc. lifted its position in shares of Silicon Motion Technology by 0.3% in the fourth quarter. Alpine Associates Management Inc. now owns 955,514 shares of the semiconductor producer’s stock worth $58,544,000 after purchasing an additional 3,300 shares in the last quarter. Hawk Ridge Capital Management LP lifted its position in Silicon Motion Technology by 63.1% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 944,559 shares of the semiconductor producer’s stock worth $48,409,000 after buying an additional 365,461 shares in the last quarter. Segantii Capital Management Ltd boosted its stake in shares of Silicon Motion Technology by 178.0% during the 3rd quarter. Segantii Capital Management Ltd now owns 833,991 shares of the semiconductor producer’s stock worth $42,742,000 after buying an additional 533,991 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Silicon Motion Technology by 1,250.9% in the 3rd quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer’s stock valued at $41,989,000 after acquiring an additional 758,640 shares in the last quarter. Finally, Cooper Creek Partners Management LLC increased its position in shares of Silicon Motion Technology by 771.4% in the third quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer’s stock valued at $38,978,000 after acquiring an additional 673,278 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $71.70 on Monday. The stock has a market cap of $2.37 billion, a PE ratio of 45.38, a price-to-earnings-growth ratio of 4.05 and a beta of 0.85. The stock has a 50-day moving average of $74.45 and a 200-day moving average of $65.46. Silicon Motion Technology has a one year low of $49.50 and a one year high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $197.60 million. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. As a group, research analysts anticipate that Silicon Motion Technology will post 2.65 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is presently 125.95%.

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.