Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) had its target price lifted by analysts at Craig Hallum from $75.00 to $80.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the semiconductor producer’s stock. Craig Hallum’s target price would indicate a potential upside of 19.49% from the stock’s previous close.
Several other equities research analysts have also recently commented on SIMO. Roth Mkm raised Silicon Motion Technology from a “neutral” rating to a “buy” rating and lifted their target price for the company from $60.00 to $75.00 in a research note on Thursday, November 2nd. JPMorgan Chase & Co. raised Silicon Motion Technology from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $54.00 to $77.00 in a research note on Thursday, January 4th. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Silicon Motion Technology in a report on Friday, January 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $75.00 target price on shares of Silicon Motion Technology in a report on Monday, January 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.43.
Silicon Motion Technology Stock Performance
Institutional Trading of Silicon Motion Technology
Several institutional investors and hedge funds have recently bought and sold shares of the stock. 1832 Asset Management L.P. acquired a new position in Silicon Motion Technology during the fourth quarter worth approximately $26,000. Signaturefd LLC increased its position in Silicon Motion Technology by 183.5% during the third quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer’s stock worth $35,000 after buying an additional 444 shares during the last quarter. Quarry LP acquired a new position in Silicon Motion Technology during the second quarter worth approximately $36,000. Barclays PLC acquired a new position in Silicon Motion Technology during the fourth quarter worth approximately $39,000. Finally, Assetmark Inc. acquired a new position in Silicon Motion Technology during the third quarter worth approximately $51,000. Institutional investors own 62.63% of the company’s stock.
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.
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