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

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $81.67.

A number of equities research analysts have weighed in on SIMO shares. Needham & Company LLC reduced their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Morgan Stanley lowered their price target on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Roth Mkm dropped their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Finally, Bank of America downgraded shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and cut their target price for the company from $90.00 to $60.00 in a research note on Friday, August 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SIMO. Erste Asset Management GmbH acquired a new stake in shares of Silicon Motion Technology in the third quarter worth about $40,331,000. FMR LLC raised its stake in Silicon Motion Technology by 27.7% during the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after purchasing an additional 485,862 shares during the last quarter. Reinhart Partners LLC. increased its holdings in shares of Silicon Motion Technology by 43.3% during the 3rd quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock worth $65,622,000 after purchasing an additional 326,358 shares during the period. AIGH Capital Management LLC bought a new stake in shares of Silicon Motion Technology in the second quarter valued at about $22,272,000. Finally, Hood River Capital Management LLC acquired a new position in Silicon Motion Technology in the 2nd quarter valued at approximately $21,208,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 0.1 %

SIMO opened at $57.03 on Tuesday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.55 and a beta of 0.82. The stock’s 50-day moving average price is $55.85 and its 200 day moving average price is $65.21. Silicon Motion Technology has a 12-month low of $50.50 and a 12-month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. On average, research analysts forecast that Silicon Motion Technology will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 75.38%.

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.