Silicon Motion Technology Co. (NASDAQ:SIMO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $81.67.

A number of research analysts have weighed in on SIMO shares. Morgan Stanley decreased their price objective on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Susquehanna lowered their target price on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Finally, Craig Hallum cut their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 31st.

Silicon Motion Technology Stock Down 4.0 %

SIMO opened at $52.96 on Friday. The company has a market cap of $1.78 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. Silicon Motion Technology has a twelve month low of $50.50 and a twelve month high of $85.87. The company has a 50-day moving average price of $54.91 and a 200 day moving average price of $61.24.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The business had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. As a group, sell-side analysts expect that Silicon Motion Technology will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.50 dividend. The ex-dividend date is Thursday, August 7th. This represents a $2.00 annualized dividend and a yield of 3.78%. Silicon Motion Technology’s payout ratio is 75.76%.

Institutional Investors Weigh In On Silicon Motion Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after purchasing an additional 484 shares during the period. JPMorgan Chase & Co. boosted its stake in Silicon Motion Technology by 21.8% during the third quarter. JPMorgan Chase & Co. now owns 200,016 shares of the semiconductor producer’s stock worth $12,149,000 after buying an additional 35,741 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Silicon Motion Technology by 21.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock valued at $67,051,000 after acquiring an additional 196,609 shares during the last quarter. 272 Capital LP raised its stake in shares of Silicon Motion Technology by 55.3% in the 3rd quarter. 272 Capital LP now owns 101,391 shares of the semiconductor producer’s stock valued at $6,158,000 after acquiring an additional 36,092 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Silicon Motion Technology in the 3rd quarter worth approximately $13,211,000. Institutional investors and hedge funds 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.