Craig Hallum Increases Silicon Motion Technology (NASDAQ:SIMO) Price Target to $80.00

Silicon Motion Technology (NASDAQ:SIMOGet 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.

Read Our Latest Report on Silicon Motion Technology

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $66.95 on Wednesday. The stock has a fifty day moving average price of $61.61 and a two-hundred day moving average price of $57.75. Silicon Motion Technology has a 52-week low of $49.50 and a 52-week high of $95.33. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 42.37, a PEG ratio of 3.34 and a beta of 0.82.

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

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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