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

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $87.57.

Several equities analysts recently issued reports on the company. Needham & Company LLC raised their price objective on Silicon Motion Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. B. Riley lifted their price target on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Craig Hallum increased their price objective on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Wedbush restated an “outperform” rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. increased their price target on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th.

Silicon Motion Technology Stock Performance

SIMO opened at $73.35 on Monday. Silicon Motion Technology has a 1-year low of $49.50 and a 1-year high of $95.33. The company has a 50-day moving average of $74.10 and a 200-day moving average of $65.16. The company has a market capitalization of $2.42 billion, a P/E ratio of 46.42, a PEG ratio of 3.95 and a beta of 0.85.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.12. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. The firm had revenue of $202.38 million during the quarter, compared to analyst estimates of $197.60 million. As a group, sell-side analysts expect that Silicon Motion Technology will post 2.65 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, May 8th. This represents a $2.00 annualized dividend and a dividend yield of 2.73%. Silicon Motion Technology’s dividend payout ratio is presently 125.95%.

Institutional Trading of Silicon Motion Technology

Several large investors have recently added to or reduced their stakes in SIMO. Wellington Management Group LLP raised its position in shares of Silicon Motion Technology by 1,250.9% during the 3rd quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer’s stock worth $41,989,000 after buying an additional 758,640 shares in the last quarter. Kodai Capital Management LP bought a new stake in Silicon Motion Technology during the fourth quarter worth approximately $44,073,000. Cooper Creek Partners Management LLC lifted its position in Silicon Motion Technology by 771.4% in the third quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer’s stock worth $38,978,000 after purchasing an additional 673,278 shares during the period. Invesco Ltd. bought a new position in Silicon Motion Technology during the 3rd quarter valued at $32,024,000. Finally, Segantii Capital Management Ltd increased its position in shares of Silicon Motion Technology by 178.0% during the 3rd quarter. Segantii Capital Management Ltd now owns 833,991 shares of the semiconductor producer’s stock valued at $42,742,000 after purchasing an additional 533,991 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

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.