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

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

Several equities research analysts have weighed in on the company. Morgan Stanley lowered their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Susquehanna cut their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a report on Friday, November 1st. Craig Hallum decreased their target price on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Roth Mkm decreased their target price on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Finally, Needham & Company LLC decreased their target price 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.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO opened at $55.15 on Friday. The stock has a 50 day moving average price of $54.94 and a 200 day moving average price of $62.20. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.61 and a beta of 0.80. Silicon Motion Technology has a 52-week low of $50.50 and a 52-week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. 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 announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.76%.

Institutional Trading of Silicon Motion Technology

Several hedge funds have recently modified their holdings of SIMO. GAMMA Investing LLC increased its stake in shares of Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after buying an additional 484 shares during the period. JPMorgan Chase & Co. increased its position in shares of Silicon Motion Technology by 21.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 200,016 shares of the semiconductor producer’s stock valued at $12,149,000 after purchasing an additional 35,741 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Silicon Motion Technology by 21.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock valued at $67,051,000 after purchasing an additional 196,609 shares in the last quarter. 272 Capital LP lifted its position 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 purchasing an additional 36,092 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Silicon Motion Technology during the third quarter worth $13,211,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

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.