Brokerages Set Silicon Motion Technology Co. (NASDAQ:SIMO) PT at $81.67

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have received an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $81.67.

Several equities research analysts have issued reports on the stock. Needham & Company LLC cut their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. B. Riley cut their price objective on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Craig Hallum cut their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Susquehanna lowered their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO opened at $51.20 on Friday. Silicon Motion Technology has a 52-week low of $50.50 and a 52-week high of $85.87. The company has a market capitalization of $1.72 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The company has a 50-day simple moving average of $56.81 and a 200 day simple moving average of $67.77.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results 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 the consensus estimate of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. Silicon Motion Technology’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. As a group, equities analysts forecast that Silicon Motion Technology will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 14th. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.38%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SIMO. SG Americas Securities LLC grew its stake in shares of Silicon Motion Technology by 0.6% during the third quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer’s stock worth $2,060,000 after buying an additional 197 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Silicon Motion Technology by 1.9% during the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock worth $1,059,000 after buying an additional 249 shares during the last quarter. Advisors Asset Management Inc. grew its stake 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 buying an additional 251 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Silicon Motion Technology by 0.7% during the third quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer’s stock worth $2,183,000 after buying an additional 253 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Silicon Motion Technology by 0.5% during the second quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock worth $4,559,000 after buying an additional 257 shares during the last quarter. 78.02% of the stock is owned by institutional investors.

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.