Silicon Motion Technology (NASDAQ:SIMO) Price Target Raised to $120.00 at B. Riley

Silicon Motion Technology (NASDAQ:SIMO) had its price target lifted by B. Riley from $105.00 to $120.00 in a report released on Wednesday,Benzinga reports. B. Riley currently has a buy rating on the semiconductor producer’s stock.

A number of other equities research analysts also recently commented on the company. Citigroup upgraded Silicon Motion Technology to a “buy” rating in a research report on Wednesday, June 18th. Bank of America upgraded Silicon Motion Technology from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, June 18th. Roth Capital upped their price objective on Silicon Motion Technology from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Needham & Company LLC upped their price objective on Silicon Motion Technology from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Finally, Craig Hallum upped their target price on Silicon Motion Technology from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $94.38.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $92.44 on Wednesday. The company has a market cap of $3.14 billion, a P/E ratio of 39.00, a PEG ratio of 4.56 and a beta of 0.99. The stock’s 50-day moving average is $79.76 and its 200 day moving average is $65.51. Silicon Motion Technology has a 1-year low of $37.21 and a 1-year high of $97.70.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.54 by $0.15. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The firm had revenue of $198.68 million during the quarter, compared to analyst estimates of $180.40 million. During the same quarter in the previous year, the business posted $0.96 EPS. Silicon Motion Technology’s revenue was down 5.7% on a year-over-year basis. Silicon Motion Technology has set its Q3 2025 guidance at EPS. On average, analysts anticipate that Silicon Motion Technology will post 3.08 EPS for the current year.

Hedge Funds Weigh In On Silicon Motion Technology

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 366 shares during the period. Parallel Advisors LLC raised its stake in Silicon Motion Technology by 61.8% during the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer’s stock valued at $58,000 after purchasing an additional 440 shares during the period. GAMMA Investing LLC raised its stake in Silicon Motion Technology by 118.3% during the 2nd quarter. GAMMA Investing LLC now owns 976 shares of the semiconductor producer’s stock valued at $73,000 after purchasing an additional 529 shares during the period. Raymond James Financial Inc. acquired a new stake in Silicon Motion Technology during the 2nd quarter valued at $75,000. Finally, Signaturefd LLC increased its stake in shares of Silicon Motion Technology by 79.3% in the first quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer’s stock worth $84,000 after acquiring an additional 736 shares during the last quarter. 78.02% of the stock is owned by institutional investors.

About Silicon Motion Technology

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.