Silicon Motion Technology Co. (NASDAQ:SIMO) Receives $87.57 Consensus PT from Analysts

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have been given an average rating of “Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $87.57.

A number of equities research analysts recently weighed in on SIMO shares. JPMorgan Chase & Co. upped their price objective on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. B. Riley raised their price target on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Wedbush reiterated an “outperform” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a research note on Friday. Craig Hallum raised their target price on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Needham & Company LLC increased their price objective on Silicon Motion Technology from $75.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 10th.

Hedge Funds Weigh In On Silicon Motion Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Easterly Investment Partners LLC raised its position in Silicon Motion Technology by 0.9% during the first quarter. Easterly Investment Partners LLC now owns 246,397 shares of the semiconductor producer’s stock worth $18,958,000 after acquiring an additional 2,128 shares during the period. Chase Investment Counsel Corp purchased a new stake in shares of Silicon Motion Technology during the first quarter worth about $2,303,000. Janney Montgomery Scott LLC raised its position in shares of Silicon Motion Technology by 14.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 83,663 shares of the semiconductor producer’s stock worth $6,437,000 after purchasing an additional 10,513 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Silicon Motion Technology by 69.7% in the 1st quarter. BNP Paribas Financial Markets now owns 8,400 shares of the semiconductor producer’s stock valued at $646,000 after buying an additional 3,449 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Silicon Motion Technology by 34.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,700 shares of the semiconductor producer’s stock valued at $362,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 0.8 %

SIMO opened at $73.96 on Monday. The business’s fifty day simple moving average is $74.63 and its 200-day simple moving average is $65.64. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 46.81, a PEG ratio of 3.86 and a beta of 0.87. Silicon Motion Technology has a 12-month low of $49.50 and a 12-month high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.51 by $0.12. The business had revenue of $202.38 million during the quarter, compared to analyst estimates of $197.60 million. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. On average, equities research analysts predict that Silicon Motion Technology will post 2.65 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 125.95%.

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.