Silicon Motion Technology (NASDAQ:SIMO) Sees Strong Trading Volume

Silicon Motion Technology Co. (NASDAQ:SIMO) shares saw an uptick in trading volume on Monday . 187,250 shares changed hands during mid-day trading, a decline of 56% from the previous session’s volume of 426,451 shares.The stock last traded at $84.60 and had previously closed at $82.71.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SIMO. Morgan Stanley raised Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $88.00 in a research note on Monday, May 6th. Craig Hallum lifted their target price on Silicon Motion Technology from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Susquehanna lifted their target price on Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a research report on Monday, May 6th. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research report on Monday, May 6th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $91.13.

Silicon Motion Technology Price Performance

The business has a 50-day simple moving average of $77.40 and a two-hundred day simple moving average of $70.85. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 48.23, a P/E/G ratio of 0.79 and a beta of 0.89.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $189.31 million for the quarter, compared to the consensus estimate of $180.23 million. Silicon Motion Technology had a return on equity of 7.78% and a net margin of 8.34%. As a group, equities analysts anticipate that Silicon Motion Technology Co. will post 2.77 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is presently 113.07%.

Institutional Investors Weigh In On Silicon Motion Technology

A number of institutional investors have recently made changes to their positions in the company. Farallon Capital Management LLC boosted its holdings in shares of Silicon Motion Technology by 247.0% during the first quarter. Farallon Capital Management LLC now owns 855,449 shares of the semiconductor producer’s stock worth $65,818,000 after acquiring an additional 608,949 shares during the period. LRI Investments LLC bought a new stake in shares of Silicon Motion Technology during the first quarter worth approximately $150,000. Kennedy Capital Management LLC boosted its holdings in shares of Silicon Motion Technology by 71.9% during the first quarter. Kennedy Capital Management LLC now owns 220,906 shares of the semiconductor producer’s stock worth $16,997,000 after acquiring an additional 92,386 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of Silicon Motion Technology during the first quarter worth approximately $8,191,000. Finally, Caxton Associates LP boosted its holdings in shares of Silicon Motion Technology by 49.8% during the first quarter. Caxton Associates LP now owns 85,407 shares of the semiconductor producer’s stock worth $6,571,000 after acquiring an additional 28,378 shares during the period. Institutional investors 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.