Silicon Motion Technology Corporation (NASDAQ:SIMO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Silicon Motion Technology Corporation (NASDAQ:SIMO) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $111.25.

Several analysts have weighed in on SIMO shares. Susquehanna boosted their price target on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Silicon Motion Technology in a report on Tuesday. Wall Street Zen raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research lowered Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd.

Silicon Motion Technology Stock Performance

SIMO stock opened at $88.96 on Tuesday. The company has a market capitalization of $3.02 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03. Silicon Motion Technology has a one year low of $37.21 and a one year high of $106.60. The company’s 50 day moving average price is $92.60 and its two-hundred day moving average price is $80.37.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.50 dividend. The ex-dividend date is Thursday, August 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. Silicon Motion Technology’s payout ratio is presently 68.73%.

Institutional Trading of Silicon Motion Technology

Several large investors have recently modified their holdings of the business. Natixis Advisors LLC bought a new position in Silicon Motion Technology during the 1st quarter valued at approximately $561,000. Alpine Associates Management Inc. increased its stake in shares of Silicon Motion Technology by 1.1% during the first quarter. Alpine Associates Management Inc. now owns 334,305 shares of the semiconductor producer’s stock valued at $16,902,000 after buying an additional 3,600 shares during the period. Neumeier Poma Investment Counsel LLC raised its holdings in shares of Silicon Motion Technology by 94.3% during the first quarter. Neumeier Poma Investment Counsel LLC now owns 353,015 shares of the semiconductor producer’s stock valued at $17,848,000 after acquiring an additional 171,350 shares in the last quarter. National Bank of Canada FI lifted its stake in Silicon Motion Technology by 10,053.3% in the first quarter. National Bank of Canada FI now owns 76,150 shares of the semiconductor producer’s stock worth $3,850,000 after acquiring an additional 75,400 shares during the period. Finally, Covestor Ltd lifted its stake in Silicon Motion Technology by 161.4% in the first quarter. Covestor Ltd now owns 3,429 shares of the semiconductor producer’s stock worth $173,000 after acquiring an additional 2,117 shares during the period. 78.02% of the stock is owned by institutional investors.

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.