Silicon Motion Technology Co. (NASDAQ:SIMO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $81.67.

A number of research analysts have issued reports on the stock. Needham & Company LLC lowered their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Susquehanna cut their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Morgan Stanley cut their price target on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th.

Silicon Motion Technology Price Performance

Shares of NASDAQ:SIMO opened at $52.96 on Friday. The business’s 50-day moving average is $54.91 and its 200 day moving average is $61.24. Silicon Motion Technology has a 1 year low of $50.50 and a 1 year high of $85.87. The firm has a market capitalization of $1.78 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.61 and a beta of 0.80.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. The firm had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, analysts expect that Silicon Motion Technology will post 2.59 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, August 7th. Silicon Motion Technology’s dividend payout ratio is currently 75.76%.

Institutional Trading of Silicon Motion Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake 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 worth $27,000 after acquiring an additional 251 shares in the last quarter. GAMMA Investing LLC raised its holdings in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after purchasing an additional 484 shares during the period. Blue Trust Inc. boosted its position in Silicon Motion Technology by 139.5% during the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock worth $83,000 after purchasing an additional 795 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Silicon Motion Technology in the second quarter valued at approximately $139,000. Finally, Van ECK Associates Corp purchased a new stake in shares of Silicon Motion Technology in the third quarter valued at approximately $151,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Company Profile

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.