Analysts Set Silicon Motion Technology Co. (NASDAQ:SIMO) PT at $80.63

Silicon Motion Technology Co. (NASDAQ:SIMO) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $80.63.

A number of research firms recently issued reports on SIMO. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Needham & Company LLC restated 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 cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th.

Silicon Motion Technology Stock Performance

NASDAQ SIMO opened at $55.80 on Thursday. The business’s 50 day moving average price is $54.12 and its 200-day moving average price is $55.48. Silicon Motion Technology has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The company has a market cap of $1.88 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.36 and a beta of 0.71.

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

Silicon Motion Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio is 74.35%.

Silicon Motion Technology declared that its board has approved a stock 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 often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SIMO. Advisors Asset Management Inc. raised its position in shares of Silicon Motion Technology by 129.4% in 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 position in shares of 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 acquiring an additional 484 shares in the last quarter. Menard Financial Group LLC bought a new position in shares of Silicon Motion Technology in the 4th quarter worth $88,000. Blue Trust Inc. raised its position in shares of Silicon Motion Technology by 64.7% in the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after acquiring an additional 883 shares in the last quarter. Finally, LRI Investments LLC raised its position in shares of Silicon Motion Technology by 519.0% in the 4th quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer’s stock worth $164,000 after acquiring an additional 2,543 shares in the last quarter. 78.02% of the stock is owned by institutional investors.

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.