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

Silicon Motion Technology Co. (NASDAQ:SIMO) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $81.67.

Several brokerages have recently commented on SIMO. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Morgan Stanley decreased their price objective 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. Needham & Company LLC dropped their target price on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Craig Hallum reduced their price target 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 price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Friday, November 1st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cerity Partners LLC bought a new stake in Silicon Motion Technology in the third quarter worth $1,826,000. Harbor Capital Advisors Inc. lifted its position in shares of Silicon Motion Technology by 95.7% in the third quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock worth $7,793,000 after buying an additional 62,733 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Silicon Motion Technology by 6,186.7% during the 2nd quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer’s stock worth $3,766,000 after acquiring an additional 46,400 shares in the last quarter. FMR LLC boosted its stake in shares of Silicon Motion Technology by 27.7% during the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after acquiring an additional 485,862 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC increased its holdings in shares of Silicon Motion Technology by 44.4% during the 2nd quarter. Resolute Capital Asset Partners LLC now owns 65,000 shares of the semiconductor producer’s stock valued at $5,264,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Trading Down 1.7 %

NASDAQ SIMO opened at $55.17 on Friday. Silicon Motion Technology has a 1 year low of $50.50 and a 1 year high of $85.87. The company has a market cap of $1.86 billion, a PE ratio of 20.90, a PEG ratio of 1.61 and a beta of 0.80. The stock’s 50-day moving average price is $54.90 and its two-hundred day moving average price is $61.50.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The business had revenue of $212.40 million for the quarter, compared to analyst estimates of $209.49 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. Research analysts forecast that Silicon Motion Technology will post 2.59 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.50 dividend. 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 presently 75.76%.

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.