Craig Hallum Cuts Silicon Motion Technology (NASDAQ:SIMO) Price Target to $90.00

Silicon Motion Technology (NASDAQ:SIMO) had its price objective trimmed by Craig Hallum from $96.00 to $90.00 in a research report report published on Thursday morning, Marketbeat.com reports. The firm currently has a buy rating on the semiconductor producer’s stock.

A number of other equities analysts also recently issued reports on SIMO. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Morgan Stanley reduced their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. B. Riley lowered their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Roth Mkm dropped their price target on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Silicon Motion Technology Trading Down 1.9 %

Shares of Silicon Motion Technology stock opened at $52.78 on Thursday. Silicon Motion Technology has a 12 month low of $52.15 and a 12 month high of $85.87. The stock’s fifty day moving average price is $58.37 and its 200-day moving average price is $69.14. The firm has a market cap of $1.78 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.85 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.72%. The business had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. During the same quarter last year, the firm posted $0.32 EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Analysts forecast that Silicon Motion Technology will post 2.86 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 75.38%.

Institutional Trading of Silicon Motion Technology

Several large investors have recently added to or reduced their stakes in SIMO. SG Americas Securities LLC boosted its position in shares of Silicon Motion Technology by 0.6% during the 3rd quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer’s stock valued at $2,060,000 after acquiring an additional 197 shares during the last quarter. Inspire Advisors LLC boosted its holdings in Silicon Motion Technology by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock valued at $1,059,000 after purchasing an additional 249 shares during the last quarter. Sei Investments Co. grew its stake in shares of Silicon Motion Technology by 0.5% in the 2nd quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock valued at $4,559,000 after buying an additional 257 shares during the period. Naples Global Advisors LLC increased its holdings in shares of Silicon Motion Technology by 3.1% during the 2nd quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock worth $1,410,000 after buying an additional 525 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 556 shares during the period. 78.02% of the stock is currently owned by hedge funds and other 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.