Silicon Motion Technology Co. (NASDAQ:SIMO) Receives Average Rating of “Moderate Buy” from Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO) has received an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $86.43.

SIMO has been the topic of a number of research analyst reports. Roth Mkm restated a “neutral” rating and set a $60.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, September 6th. TheStreet cut Silicon Motion Technology from an “a-” rating to a “c+” rating in a report on Thursday, June 8th. Craig Hallum reduced their price target on shares of Silicon Motion Technology from $120.00 to $106.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. Susquehanna dropped their target price on shares of Silicon Motion Technology from $106.00 to $102.00 in a research note on Friday, July 28th. Finally, Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of Silicon Motion Technology in a research note on Thursday, August 17th.

Institutional Trading of Silicon Motion Technology

Institutional investors have recently bought and sold shares of the business. Davidson Kempner Capital Management LP acquired a new stake in shares of Silicon Motion Technology during the second quarter worth $9,080,000. XTX Topco Ltd bought a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at about $223,000. Goldman Sachs Group Inc. raised its position in shares of Silicon Motion Technology by 21.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 547,180 shares of the semiconductor producer’s stock valued at $39,320,000 after acquiring an additional 95,869 shares during the period. Lazard Asset Management LLC boosted its stake in Silicon Motion Technology by 18.3% during the 2nd quarter. Lazard Asset Management LLC now owns 408,525 shares of the semiconductor producer’s stock worth $29,356,000 after acquiring an additional 63,268 shares during the last quarter. Finally, Quarry LP acquired a new position in Silicon Motion Technology during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $51.32 on Friday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 19.51, a P/E/G ratio of 6.75 and a beta of 0.93. The stock has a fifty day moving average price of $57.17 and a two-hundred day moving average price of $61.84. Silicon Motion Technology has a 52-week low of $50.50 and a 52-week high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). The firm had revenue of $140.36 million for the quarter, compared to the consensus estimate of $134.93 million. Silicon Motion Technology had a net margin of 12.24% and a return on equity of 11.94%. On average, equities research analysts predict that Silicon Motion Technology will post 1.53 EPS for the current fiscal year.

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.