Brokerages Set Silicon Motion Technology Co. (NASDAQ:SIMO) Price Target at $80.63

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $80.63.

Several research firms recently weighed in on SIMO. Susquehanna decreased their target price on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Craig Hallum reduced their price target on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Silicon Motion Technology in a report on Friday, February 7th. Finally, StockNews.com downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th.

Silicon Motion Technology Stock Down 0.9 %

Shares of SIMO opened at $55.01 on Friday. The company has a market cap of $1.85 billion, a P/E ratio of 20.45, a PEG ratio of 1.36 and a beta of 0.79. Silicon Motion Technology has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The firm’s 50 day moving average price is $54.50 and its 200 day moving average price is $56.61.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. Research analysts forecast that Silicon Motion Technology will post 3.08 earnings per share for the current year.

Silicon Motion Technology declared that its board has authorized a share buyback program on Wednesday, February 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the semiconductor producer to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 74.35%.

Institutional Trading of Silicon Motion Technology

A number of large investors have recently made changes to their positions in SIMO. FMR LLC raised its stake in Silicon Motion Technology by 27.7% in the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after purchasing an additional 485,862 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Silicon Motion Technology by 20.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,324,930 shares of the semiconductor producer’s stock valued at $71,612,000 after buying an additional 221,017 shares during the last quarter. Pertento Partners LLP lifted its stake in shares of Silicon Motion Technology by 31.2% during the fourth quarter. Pertento Partners LLP now owns 1,166,914 shares of the semiconductor producer’s stock valued at $63,072,000 after buying an additional 277,462 shares during the period. Reinhart Partners LLC. boosted its position in Silicon Motion Technology by 5.1% during the fourth quarter. Reinhart Partners LLC. now owns 1,135,738 shares of the semiconductor producer’s stock worth $61,387,000 after acquiring an additional 55,363 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Silicon Motion Technology by 22.8% in the 4th quarter. Invesco Ltd. now owns 1,038,779 shares of the semiconductor producer’s stock worth $56,146,000 after acquiring an additional 192,646 shares during the period. 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.