Silicon Motion Technology (NASDAQ:SIMO) Given New $107.00 Price Target at B. Riley

Silicon Motion Technology (NASDAQ:SIMOGet Rating) had its price objective decreased by B. Riley from $114.00 to $107.00 in a report issued on Monday morning, The Fly reports.

A number of other research firms have also recently commented on SIMO. Susquehanna cut shares of Silicon Motion Technology from a positive rating to a neutral rating in a research note on Thursday, May 5th. Roth Capital lowered shares of Silicon Motion Technology from a buy rating to a neutral rating in a research report on Thursday, May 5th. Needham & Company LLC lowered shares of Silicon Motion Technology from a buy rating to a hold rating in a research report on Thursday, May 5th. StockNews.com lowered shares of Silicon Motion Technology from a buy rating to a hold rating in a research report on Friday. Finally, Wedbush reduced their price target on shares of Silicon Motion Technology from $115.00 to $110.00 in a research report on Thursday, July 28th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Silicon Motion Technology has a consensus rating of Hold and a consensus target price of $104.38.

Silicon Motion Technology Stock Performance

NASDAQ:SIMO opened at $85.92 on Monday. The company’s 50-day simple moving average is $86.19 and its 200-day simple moving average is $80.85. The stock has a market capitalization of $2.84 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.31 and a beta of 0.97. Silicon Motion Technology has a fifty-two week low of $64.41 and a fifty-two week high of $98.65.

Silicon Motion Technology (NASDAQ:SIMOGet Rating) last released its earnings results on Thursday, May 5th. The semiconductor producer reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.19. The company had revenue of $242.00 million during the quarter, compared to analysts’ expectations of $239.46 million. Silicon Motion Technology had a net margin of 21.92% and a return on equity of 33.80%. Silicon Motion Technology’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. On average, research analysts forecast that Silicon Motion Technology will post 7.22 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be given a $0.50 dividend. The ex-dividend date is Wednesday, August 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 30.80%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Chartwell Investment Partners LLC raised its position in shares of Silicon Motion Technology by 23.1% in the second quarter. Chartwell Investment Partners LLC now owns 17,010 shares of the semiconductor producer’s stock worth $1,424,000 after acquiring an additional 3,194 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Silicon Motion Technology by 0.5% in the second quarter. Crossmark Global Holdings Inc. now owns 103,003 shares of the semiconductor producer’s stock worth $8,621,000 after acquiring an additional 543 shares during the period. Mission Wealth Management LP raised its position in shares of Silicon Motion Technology by 11.5% in the second quarter. Mission Wealth Management LP now owns 3,400 shares of the semiconductor producer’s stock worth $285,000 after acquiring an additional 350 shares during the period. Chase Investment Counsel Corp acquired a new position in shares of Silicon Motion Technology during the 2nd quarter worth about $4,025,000. Finally, Alta Advisers Ltd raised its position in shares of Silicon Motion Technology by 11.6% during the 2nd quarter. Alta Advisers Ltd now owns 2,009 shares of the semiconductor producer’s stock worth $168,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 76.60% of the company’s stock.

Silicon Motion Technology Company Profile

(Get Rating)

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It 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.

Further Reading

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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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