Silicon Motion Technology (NASDAQ:SIMO) Upgraded at StockNews.com

StockNews.com upgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a hold rating to a buy rating in a research note released on Tuesday.

A number of other equities analysts have also recently issued reports on SIMO. Needham & Company LLC dropped their price target on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Craig Hallum dropped their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Susquehanna reduced their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Friday, November 1st. Bank of America downgraded 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. Finally, Roth Mkm lowered their price target on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Stock Performance

SIMO stock opened at $56.20 on Tuesday. Silicon Motion Technology has a fifty-two week low of $50.50 and a fifty-two week high of $85.87. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The business’s 50 day moving average price is $56.00 and its two-hundred day moving average price is $65.70.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 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 analyst estimates of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Sell-side analysts forecast that Silicon Motion Technology will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.38%.

Institutional Trading of Silicon Motion Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH purchased a new stake in shares of Silicon Motion Technology in the third quarter valued at $40,331,000. FMR LLC lifted its stake in Silicon Motion Technology by 27.7% in the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after purchasing an additional 485,862 shares during the last quarter. Reinhart Partners LLC. boosted its position in shares of Silicon Motion Technology by 43.3% during the third quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock valued at $65,622,000 after buying an additional 326,358 shares during the period. AIGH Capital Management LLC purchased a new position in shares of Silicon Motion Technology during the second quarter valued at approximately $22,272,000. Finally, Hood River Capital Management LLC bought a new position in shares of Silicon Motion Technology during the second quarter valued at approximately $21,208,000. Hedge funds and other 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.