Silicon Motion Technology Co. (NASDAQ:SIMO) Receives $81.67 Consensus Target Price from Brokerages

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $81.67.

Several equities analysts recently issued reports on SIMO shares. Craig Hallum dropped their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. B. Riley dropped their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Roth Mkm dropped their target price on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Susquehanna dropped their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Finally, Needham & Company LLC dropped their target price on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 1st.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO opened at $51.20 on Friday. The firm has a market cap of $1.72 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The firm’s fifty day moving average is $56.81 and its 200-day moving average is $67.77. Silicon Motion Technology has a 52 week low of $50.50 and a 52 week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping 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 net margin of 10.90% and a return on equity of 11.52%. Silicon Motion Technology’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. Sell-side analysts forecast that Silicon Motion Technology will post 2.59 EPS for the current year.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

Hedge Funds Weigh In On Silicon Motion Technology

Institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its holdings in shares of Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after purchasing an additional 251 shares during the period. Blue Trust Inc. raised its holdings in shares of Silicon Motion Technology by 3,971.4% during the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 556 shares during the period. Headlands Technologies LLC bought a new stake in shares of Silicon Motion Technology during the second quarter worth about $139,000. LRI Investments LLC bought a new stake in shares of Silicon Motion Technology during the first quarter worth about $150,000. Finally, Van ECK Associates Corp bought a new stake in shares of Silicon Motion Technology during the third quarter worth about $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.