Silicon Motion Technology Co. (NASDAQ:SIMO) Receives $80.63 Average PT from Brokerages

Silicon Motion Technology Co. (NASDAQ:SIMO) has earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $80.63.

Several research firms have commented on SIMO. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Monday, December 23rd. StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Silicon Motion Technology in a research report on Friday, February 7th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SIMO. GAMMA Investing LLC boosted its stake in shares of Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after acquiring an additional 484 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Silicon Motion Technology by 61.8% in the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer’s stock valued at $58,000 after purchasing an additional 440 shares during the period. Menard Financial Group LLC purchased a new position in Silicon Motion Technology in the 4th quarter worth about $88,000. Blue Trust Inc. raised its holdings in Silicon Motion Technology by 64.7% during the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after buying an additional 883 shares during the period. Finally, LRI Investments LLC lifted its stake in Silicon Motion Technology by 519.0% during the fourth quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer’s stock valued at $164,000 after buying an additional 2,543 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Down 1.6 %

Shares of NASDAQ SIMO opened at $39.22 on Monday. The firm’s 50-day moving average price is $50.70 and its two-hundred day moving average price is $53.48. Silicon Motion Technology has a 52-week low of $37.21 and a 52-week high of $85.87. The stock has a market capitalization of $1.32 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.36 and a beta of 0.81.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. As a group, equities research analysts expect that Silicon Motion Technology will post 3.08 earnings per share for the current year.

Silicon Motion Technology announced that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the semiconductor producer to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.