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

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $111.25.

Several analysts have commented on the company. Craig Hallum lifted their price target on Silicon Motion Technology from $70.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 31st. B. Riley increased their target price 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. Wedbush set a $120.00 price target on Silicon Motion Technology in a research report on Monday, November 3rd. Susquehanna increased their price objective on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Silicon Motion Technology in a research note on Wednesday, November 19th.

Institutional Trading of Silicon Motion Technology

Several large investors have recently modified their holdings of SIMO. Hsbc Holdings PLC purchased a new stake in Silicon Motion Technology during the 1st quarter worth approximately $238,000. Harbor Capital Advisors Inc. grew its position in shares of Silicon Motion Technology by 65.5% during the second quarter. Harbor Capital Advisors Inc. now owns 202,721 shares of the semiconductor producer’s stock worth $15,239,000 after buying an additional 80,208 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Silicon Motion Technology by 155.0% in the first quarter. Goldman Sachs Group Inc. now owns 73,988 shares of the semiconductor producer’s stock worth $3,741,000 after buying an additional 44,976 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of Silicon Motion Technology in the first quarter worth $561,000. Finally, Atria Investments Inc acquired a new stake in Silicon Motion Technology in the second quarter valued at $302,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Trading Up 3.5%

Silicon Motion Technology stock opened at $83.84 on Tuesday. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 1.75 and a beta of 1.03. The stock has a 50 day moving average of $92.87 and a two-hundred day moving average of $79.66. Silicon Motion Technology has a twelve month low of $37.21 and a twelve month high of $106.60.

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

Silicon Motion Technology Announces Dividend

The company also recently declared 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 2.4%. Silicon Motion Technology’s payout ratio is 68.73%.

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.