Silicon Motion Technology Corporation (NASDAQ:SIMO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $132.50.

Several equities research analysts recently commented on the company. Susquehanna boosted their target price on Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Craig Hallum reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Motion Technology in a research note on Thursday. William Blair started coverage on Silicon Motion Technology in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Needham & Company LLC lifted their target price on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wall Street Zen raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th.

Silicon Motion Technology Trading Up 1.5%

SIMO stock opened at $128.06 on Friday. The firm’s 50-day moving average is $102.84 and its two-hundred day moving average is $92.22. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. Silicon Motion Technology has a 52 week low of $37.21 and a 52 week high of $133.78.

Institutional Trading of Silicon Motion Technology

A number of large investors have recently added to or reduced their stakes in the business. NewEdge Wealth LLC increased its holdings in shares of Silicon Motion Technology by 3.6% in the fourth quarter. NewEdge Wealth LLC now owns 2,631 shares of the semiconductor producer’s stock valued at $244,000 after buying an additional 91 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Silicon Motion Technology by 2.8% during the fourth quarter. Ballentine Partners LLC now owns 4,006 shares of the semiconductor producer’s stock worth $371,000 after purchasing an additional 110 shares during the period. Penn Capital Management Company LLC raised its position in shares of Silicon Motion Technology by 2.3% during the third quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer’s stock worth $552,000 after purchasing an additional 132 shares during the period. WealthCollab LLC raised its holdings in Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after buying an additional 151 shares during the period. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of Silicon Motion Technology by 0.9% during the second quarter. Orion Porfolio Solutions LLC now owns 17,733 shares of the semiconductor producer’s stock valued at $1,333,000 after acquiring an additional 159 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.