Silicon Motion Technology Co. (NASDAQ:SIMO) Given Average Recommendation of “Buy” by Brokerages

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $87.57.

A number of research firms recently weighed in on SIMO. Craig Hallum lifted their price objective on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Wedbush reiterated an “outperform” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, April 10th. Needham & Company LLC raised their target price 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 objective on Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their price target on Silicon Motion Technology from $77.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 8th.

Silicon Motion Technology Price Performance

Shares of NASDAQ SIMO opened at $73.35 on Monday. The business’s fifty day moving average price is $74.10 and its 200-day moving average price is $65.16. Silicon Motion Technology has a one year low of $49.50 and a one year high of $95.33. The stock has a market capitalization of $2.42 billion, a PE ratio of 46.42, a P/E/G ratio of 3.95 and a beta of 0.85.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data 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 business had revenue of $202.38 million for the quarter, compared to the consensus estimate of $197.60 million. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. As a group, equities analysts expect that Silicon Motion Technology will post 2.65 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in shares of Silicon Motion Technology by 154.9% during the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after purchasing an additional 333 shares during the period. Signaturefd LLC grew its position in shares of Silicon Motion Technology by 183.5% in the 3rd 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. Assetmark Inc. purchased a new position in shares of Silicon Motion Technology during the third quarter valued at approximately $51,000. CVA Family Office LLC bought a new position in shares of Silicon Motion Technology during the fourth quarter valued at approximately $65,000. Finally, Covestor Ltd lifted its stake in Silicon Motion Technology by 76.9% in the third quarter. Covestor Ltd now owns 1,788 shares of the semiconductor producer’s stock worth $92,000 after acquiring an additional 777 shares during the period. 78.02% of the stock is currently owned by institutional investors.

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.