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

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $80.63.

Several equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Silicon Motion Technology in a report on Friday, February 7th. Finally, StockNews.com downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its position in shares of Silicon Motion Technology by 129.4% in the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after buying an additional 251 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Silicon Motion Technology by 123.2% in the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after buying an additional 484 shares in the last quarter. Menard Financial Group LLC purchased a new position in shares of Silicon Motion Technology in the fourth quarter valued at $88,000. Blue Trust Inc. increased its position in shares of Silicon Motion Technology by 64.7% in the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock valued at $122,000 after buying an additional 883 shares in the last quarter. Finally, LRI Investments LLC increased its position in shares of Silicon Motion Technology by 519.0% in the fourth quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer’s stock valued at $164,000 after buying an additional 2,543 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 3.9 %

SIMO stock opened at $56.58 on Thursday. The company has a market capitalization of $1.91 billion, a P/E ratio of 21.03, a PEG ratio of 1.36 and a beta of 0.71. Silicon Motion Technology has a twelve month low of $48.81 and a twelve month high of $85.87. The business has a 50 day simple moving average of $54.04 and a 200-day simple moving average of $55.56.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. Research analysts predict that Silicon Motion Technology will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.53%. The ex-dividend date was Thursday, February 13th. Silicon Motion Technology’s payout ratio is 74.35%.

Silicon Motion Technology declared that its board has initiated a stock buyback program on Wednesday, February 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.