Silicon Motion Technology Sees Unusually High Options Volume (NASDAQ:SIMO)

Silicon Motion Technology Co. (NASDAQ:SIMO) was the target of unusually large options trading on Friday. Investors purchased 2,436 call options on the stock. This represents an increase of approximately 90% compared to the typical daily volume of 1,283 call options.

Silicon Motion Technology Trading Up 0.8 %

Shares of Silicon Motion Technology stock opened at $73.96 on Friday. The company’s 50-day moving average price is $74.63 and its 200-day moving average price is $65.71. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 3.95 and a beta of 0.87. Silicon Motion Technology has a 12-month low of $49.50 and a 12-month high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.51 by $0.12. The firm had revenue of $202.38 million during the quarter, compared to the consensus estimate of $197.60 million. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.77%. On average, sell-side analysts predict that Silicon Motion Technology will post 2.65 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a yield of 2.70%. Silicon Motion Technology’s dividend payout ratio is presently 113.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SIMO. JPMorgan Chase & Co. upped their target price 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. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research note on Friday. Craig Hallum boosted their target price on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday. Finally, Needham & Company LLC lifted their price target on Silicon Motion Technology from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Buy” and an average target price of $87.57.

Hedge Funds Weigh In On Silicon Motion Technology

Institutional investors have recently made changes to their positions in the stock. Zweig DiMenna Associates LLC purchased a new position in shares of Silicon Motion Technology during the 3rd quarter valued at about $3,101,000. Reinhart Partners LLC. bought a new stake in shares of Silicon Motion Technology in the 3rd quarter worth approximately $22,065,000. Inspire Advisors LLC purchased a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at $646,000. Skylands Capital LLC grew its holdings in shares of Silicon Motion Technology by 46.7% during the 3rd quarter. Skylands Capital LLC now owns 35,200 shares of the semiconductor producer’s stock valued at $1,804,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Assetmark Inc. bought a new stake in Silicon Motion Technology in the third quarter worth $51,000. Institutional investors own 78.02% of the company’s stock.

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.