Silicon Motion Technology Co. (NASDAQ:SIMO) Receives $81.67 Consensus PT from Brokerages

Silicon Motion Technology Co. (NASDAQ:SIMO) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $81.67.

Several equities analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Craig Hallum reduced 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 note on Thursday, October 31st. StockNews.com downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reduced their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Susquehanna dropped their price objective on 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 Trading Up 0.2 %

NASDAQ:SIMO opened at $56.27 on Tuesday. Silicon Motion Technology has a 12 month low of $50.50 and a 12 month high of $85.87. The firm’s 50 day moving average is $55.61 and its 200 day moving average is $64.93. The stock has a market capitalization of $1.90 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82.

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 firm had revenue of $212.40 million for 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 business’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Research analysts predict that Silicon Motion Technology will post 2.59 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s payout ratio is 75.76%.

Hedge Funds Weigh In On Silicon Motion Technology

A number of institutional investors have recently made changes to their positions in the stock. 272 Capital LP lifted its holdings in shares of Silicon Motion Technology by 55.3% during the 3rd quarter. 272 Capital LP now owns 101,391 shares of the semiconductor producer’s stock worth $6,158,000 after acquiring an additional 36,092 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Silicon Motion Technology during the third quarter valued at about $13,211,000. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 253 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Silicon Motion Technology in the 3rd quarter worth about $5,904,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Silicon Motion Technology by 23.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 10,378 shares of the semiconductor producer’s stock valued at $630,000 after purchasing an additional 1,960 shares during the last quarter. 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.