Analysts Set Silicon Motion Technology Corporation (NASDAQ:SIMO) Target Price at $205.63

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have been assigned an average recommendation of “Buy” from the twelve analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $205.6250.

Several research firms have weighed in on SIMO. Craig Hallum reissued a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Wedbush boosted their price objective on Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Roth Mkm reissued a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Susquehanna boosted their price objective on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research report on Thursday, April 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Apis Capital Advisors LLC boosted its position in Silicon Motion Technology by 11.7% in the third quarter. Apis Capital Advisors LLC now owns 286,000 shares of the semiconductor producer’s stock worth $27,116,000 after purchasing an additional 30,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in Silicon Motion Technology in the third quarter worth $1,070,000. Neumeier Poma Investment Counsel LLC boosted its position in Silicon Motion Technology by 10.7% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 478,463 shares of the semiconductor producer’s stock worth $45,363,000 after purchasing an additional 46,208 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Silicon Motion Technology during the 3rd quarter valued at $6,210,000. Finally, UBS Group AG lifted its position in shares of Silicon Motion Technology by 39.0% during the 4th quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock valued at $32,588,000 after buying an additional 98,548 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 4.8%

Shares of Silicon Motion Technology stock opened at $276.14 on Tuesday. The stock has a fifty day simple moving average of $166.53 and a 200 day simple moving average of $127.65. Silicon Motion Technology has a 12-month low of $60.35 and a 12-month high of $278.50. The company has a market capitalization of $9.36 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.67.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.27. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The business had revenue of $342.11 million during the quarter, compared to the consensus estimate of $299.53 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Silicon Motion Technology’s revenue was up 105.5% compared to the same quarter last year. On average, analysts predict that Silicon Motion Technology will post 7.77 EPS for the current year.

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.