Silicon Motion Technology (NASDAQ:SIMO) Given New $110.00 Price Target at Susquehanna

Silicon Motion Technology (NASDAQ:SIMO) had its target price raised by Susquehanna from $100.00 to $110.00 in a research report released on Monday, Benzinga reports. They currently have a positive rating on the semiconductor producer’s stock.

SIMO has been the topic of a number of other reports. StockNews.com raised shares of Silicon Motion Technology from a hold rating to a buy rating in a report on Friday. Craig Hallum increased their price objective on shares of Silicon Motion Technology from $80.00 to $96.00 and gave the stock a buy rating in a research note on Monday. Needham & Company LLC restated a buy rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research note on Monday. Morgan Stanley raised Silicon Motion Technology from an equal weight rating to an overweight rating and raised their price target for the stock from $59.00 to $88.00 in a report on Monday. Finally, B. Riley upped their price objective on Silicon Motion Technology from $93.00 to $101.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $91.13.

Silicon Motion Technology Price Performance

Shares of Silicon Motion Technology stock opened at $78.58 on Monday. Silicon Motion Technology has a 1-year low of $49.50 and a 1-year high of $95.33. The business has a 50-day moving average of $74.80 and a 200-day moving average of $65.95. The company has a market capitalization of $2.65 billion, a PE ratio of 44.65, a P/E/G ratio of 3.98 and a beta of 0.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $202.38 million during the quarter, compared to analyst estimates of $197.60 million. Silicon Motion Technology had a return on equity of 7.77% and a net margin of 8.34%. On average, equities analysts expect that Silicon Motion Technology will post 2.65 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a $0.50 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a yield of 2.55%. Silicon Motion Technology’s dividend payout ratio is presently 113.07%.

Institutional Trading of Silicon Motion Technology

A number of hedge funds and other institutional investors have recently modified their holdings of SIMO. Alpine Associates Management Inc. boosted its position in shares of Silicon Motion Technology by 0.3% during the 4th quarter. Alpine Associates Management Inc. now owns 955,514 shares of the semiconductor producer’s stock valued at $58,544,000 after purchasing an additional 3,300 shares in the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of Silicon Motion Technology by 63.1% in the third quarter. Hawk Ridge Capital Management LP now owns 944,559 shares of the semiconductor producer’s stock valued at $48,409,000 after buying an additional 365,461 shares in the last quarter. Segantii Capital Management Ltd lifted its position in shares of Silicon Motion Technology by 178.0% during the 3rd quarter. Segantii Capital Management Ltd now owns 833,991 shares of the semiconductor producer’s stock valued at $42,742,000 after acquiring an additional 533,991 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Silicon Motion Technology by 1,250.9% during the 3rd quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer’s stock worth $41,989,000 after acquiring an additional 758,640 shares in the last quarter. Finally, Cooper Creek Partners Management LLC grew its holdings in shares of Silicon Motion Technology by 771.4% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer’s stock worth $38,978,000 after acquiring an additional 673,278 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

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.