Silicon Motion Technology Co. (NASDAQ:SIMO) Given Average Rating of “Buy” by Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO) has earned an average recommendation of “Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $87.57.

Several research firms have issued reports on SIMO. Craig Hallum upped their price target on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday. Needham & Company LLC upped their price objective on Silicon Motion Technology from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, B. Riley increased their price target on Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Silicon Motion Technology by 154.9% during the 4th quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after purchasing an additional 333 shares in the last quarter. Signaturefd LLC grew its stake in Silicon Motion Technology by 183.5% in the third quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer’s stock valued at $35,000 after acquiring an additional 444 shares during the period. Assetmark Inc. bought a new stake in shares of Silicon Motion Technology during the third quarter valued at approximately $51,000. CVA Family Office LLC bought a new stake in shares of Silicon Motion Technology during the fourth quarter valued at approximately $65,000. Finally, Covestor Ltd raised its position in shares of Silicon Motion Technology by 76.9% during the third quarter. Covestor Ltd now owns 1,788 shares of the semiconductor producer’s stock worth $92,000 after purchasing an additional 777 shares during the period. 78.02% of the stock is owned by institutional investors.

Silicon Motion Technology Price Performance

Shares of NASDAQ SIMO opened at $73.96 on Monday. The business has a 50-day moving average of $74.63 and a 200-day moving average of $65.64. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 46.81, a PEG ratio of 3.86 and a beta of 0.87. Silicon Motion Technology has a fifty-two week low of $49.50 and a fifty-two week high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $202.38 million during the quarter, compared to the consensus estimate of $197.60 million. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. On average, sell-side analysts expect that Silicon Motion Technology will post 2.65 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is presently 125.95%.

About Silicon Motion Technology

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.