Silicon Motion Technology (NASDAQ:SIMO) Price Target Raised to $110.00 at JPMorgan Chase & Co.

Silicon Motion Technology (NASDAQ:SIMO) had its target price lifted by JPMorgan Chase & Co. from $85.00 to $110.00 in a report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor producer’s stock.

Other equities analysts have also issued research reports about the company. Wedbush set a $120.00 price target on Silicon Motion Technology in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Silicon Motion Technology in a research note on Wednesday, October 8th. B. Riley upped their price target on Silicon Motion Technology from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price target on shares of Silicon Motion Technology in a research note on Monday. Finally, Roth Capital reaffirmed a “buy” rating and issued a $120.00 price target on shares of Silicon Motion Technology in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Silicon Motion Technology has an average rating of “Buy” and a consensus price target of $111.25.

Silicon Motion Technology Stock Performance

Shares of Silicon Motion Technology stock opened at $97.66 on Monday. Silicon Motion Technology has a one year low of $37.21 and a one year high of $106.60. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 1.75 and a beta of 1.03. The business’s 50 day moving average price is $91.08 and its 200 day moving average price is $75.23.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Thursday, October 30th. The semiconductor producer reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. Silicon Motion Technology had a return on equity of 10.14% and a net margin of 10.36%.The company had revenue of $242.00 million for the quarter, compared to the consensus estimate of $222.60 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Silicon Motion Technology has set its Q4 2025 guidance at EPS. On average, analysts predict that Silicon Motion Technology will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $2.00 annualized dividend and a yield of 2.0%. Silicon Motion Technology’s dividend payout ratio is presently 68.73%.

Hedge Funds Weigh In On Silicon Motion Technology

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC lifted its stake in Silicon Motion Technology by 35.9% during the 1st quarter. Cerity Partners LLC now owns 31,413 shares of the semiconductor producer’s stock worth $1,588,000 after acquiring an additional 8,298 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Silicon Motion Technology during the 1st quarter worth about $238,000. Harbor Capital Advisors Inc. lifted its stake in Silicon Motion Technology by 65.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 202,721 shares of the semiconductor producer’s stock worth $15,239,000 after acquiring an additional 80,208 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Silicon Motion Technology by 155.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock worth $3,741,000 after acquiring an additional 44,976 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in Silicon Motion Technology during the 1st quarter worth about $561,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

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.