Silicon Motion Technology Co. (NASDAQ:SIMO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $81.67.

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Tuesday. Susquehanna cut their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Friday, November 1st. Roth Mkm decreased their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Craig Hallum dropped their target price on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd.

Silicon Motion Technology Trading Up 0.4 %

SIMO stock opened at $51.06 on Wednesday. The stock has a market cap of $1.72 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.80. The stock has a 50-day moving average price of $54.60 and a two-hundred day moving average price of $58.51. Silicon Motion Technology has a 1 year low of $48.81 and a 1 year high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The business had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. During the same period last year, the company earned $0.32 earnings per share. Silicon Motion Technology’s quarterly revenue was up 23.3% on a year-over-year basis. On average, analysts forecast that Silicon Motion Technology will post 2.58 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology’s payout ratio is 75.38%.

Institutional Trading of Silicon Motion Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its holdings in shares of Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after purchasing an additional 251 shares during the period. GAMMA Investing LLC raised its holdings in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after acquiring an additional 484 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Silicon Motion Technology by 139.5% during the 3rd quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock valued at $83,000 after acquiring an additional 795 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Silicon Motion Technology during the 3rd quarter worth $151,000. Finally, Choreo LLC bought a new position in shares of Silicon Motion Technology in the fourth quarter worth $209,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

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.