Silicon Motion Technology Co. (NASDAQ:SIMO) Receives Consensus Recommendation of “Hold” from Analysts

Silicon Motion Technology Co. (NASDAQ:SIMOGet Rating) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $109.00.

SIMO has been the subject of several recent analyst reports. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. B. Riley decreased their target price on shares of Silicon Motion Technology from $114.00 to $107.00 in a research report on Monday, August 1st. Finally, Wedbush decreased their target price on shares of Silicon Motion Technology from $115.00 to $110.00 in a research report on Thursday, July 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SIMO. Westchester Capital Management LLC bought a new position in shares of Silicon Motion Technology in the second quarter valued at approximately $68,393,000. TIG Advisors LLC bought a new position in shares of Silicon Motion Technology in the second quarter valued at approximately $41,835,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Silicon Motion Technology during the second quarter valued at approximately $38,974,000. Alpine Associates Management Inc. acquired a new stake in Silicon Motion Technology during the second quarter valued at approximately $26,118,000. Finally, Woodline Partners LP acquired a new stake in Silicon Motion Technology during the second quarter valued at approximately $25,445,000. 72.12% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Down 0.9 %

Shares of NASDAQ:SIMO opened at $69.96 on Monday. Silicon Motion Technology has a fifty-two week low of $64.41 and a fifty-two week high of $98.65. The company has a market cap of $2.31 billion, a PE ratio of 10.83, a P/E/G ratio of 1.12 and a beta of 0.99. The firm has a 50-day simple moving average of $79.85 and a 200 day simple moving average of $80.38.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Wednesday, August 10th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 30.80%.

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.

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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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