Research Analysts’ Recent Ratings Updates for Silicon Motion Technology (SIMO)

Several analysts have recently updated their ratings and price targets for Silicon Motion Technology (NASDAQ: SIMO):

• 11/4/2024 – Silicon Motion Technology was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/1/2024 – Silicon Motion Technology had its price target lowered by analysts at Susquehanna from $110.00 to $95.00. They now have a “positive” rating on the stock.
• 11/1/2024 – Silicon Motion Technology had its price target lowered by analysts at Needham & Company LLC from $94.00 to $75.00. They now have a “buy” rating on the stock.
• 10/31/2024 – Silicon Motion Technology had its price target lowered by analysts at Craig Hallum from $96.00 to $90.00. They now have a “buy” rating on the stock.
• 10/8/2024 – Silicon Motion Technology had its price target lowered by analysts at Roth Mkm from $90.00 to $80.00. They now have a “buy” rating on the stock.
• 10/2/2024 – Silicon Motion Technology had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $90.00 price target on the stock.
• 9/16/2024 – Silicon Motion Technology had its price target lowered by analysts at Morgan Stanley from $78.00 to $65.00. They now have an “overweight” rating on the stock.
• 9/14/2024 – Silicon Motion Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Silicon Motion Technology Trading Down 3.5 %

Shares of SIMO traded down $1.97 on Friday, reaching $54.12. The company’s stock had a trading volume of 229,824 shares, compared to its average volume of 374,890. Silicon Motion Technology Co. has a twelve month low of $51.92 and a twelve month high of $85.87. The stock has a market capitalization of $1.82 billion, a PE ratio of 20.50, a PEG ratio of 1.50 and a beta of 0.84. The firm has a fifty day moving average of $57.73 and a 200-day moving average of $68.68.

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

Silicon Motion Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.70%. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

Institutional Trading of Silicon Motion Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in shares of Silicon Motion Technology by 0.6% during the 3rd quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer’s stock worth $2,060,000 after purchasing an additional 197 shares during the period. Inspire Advisors LLC boosted its stake in Silicon Motion Technology by 1.9% in the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock valued at $1,059,000 after acquiring an additional 249 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after acquiring an additional 251 shares during the period. Sei Investments Co. raised its holdings in shares of Silicon Motion Technology by 0.5% in the 2nd quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock worth $4,559,000 after purchasing an additional 257 shares during the period. Finally, Naples Global Advisors LLC raised its holdings in shares of Silicon Motion Technology by 3.1% in the 2nd quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock worth $1,410,000 after purchasing an additional 525 shares during the period. 78.02% of the stock is owned by hedge funds and other institutional investors.

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.