Susquehanna Cuts Silicon Motion Technology (NASDAQ:SIMO) Price Target to $95.00

Silicon Motion Technology (NASDAQ:SIMO) had its price objective reduced by Susquehanna from $110.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor producer’s stock.

A number of other analysts also recently weighed in on SIMO. Morgan Stanley decreased their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Roth Mkm lowered their target price on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. B. Riley decreased their price target on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Stock Performance

SIMO stock opened at $52.78 on Friday. The company has a market capitalization of $1.78 billion, a P/E ratio of 19.99, a PEG ratio of 0.85 and a beta of 0.84. The company has a fifty day moving average price of $58.37 and a 200-day moving average price of $69.14. Silicon Motion Technology has a 52-week low of $52.15 and a 52-week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. Silicon Motion Technology had a return on equity of 11.72% and a net margin of 10.90%. Silicon Motion Technology’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. As a group, sell-side analysts forecast that Silicon Motion Technology will post 2.86 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 75.38%.

Institutional Investors Weigh In On Silicon Motion Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Silicon Motion Technology by 3,971.4% in the 2nd 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 acquired a new stake in shares of Silicon Motion Technology in the 1st quarter worth about $150,000. PNC Financial Services Group Inc. raised its holdings in shares of Silicon Motion Technology by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the semiconductor producer’s stock worth $155,000 after acquiring an additional 821 shares during the last quarter. Finally, HBK Sorce Advisory LLC bought a new position in Silicon Motion Technology in the 1st quarter valued at about $204,000. 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.