Silicon Motion Technology (NASDAQ:SIMO) Rating Increased to Strong-Buy at Wall Street Zen

Silicon Motion Technology (NASDAQ:SIMO) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other research firms have also commented on SIMO. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Craig Hallum reiterated a “buy” rating and set a $160.00 price target on shares of Silicon Motion Technology in a research report on Thursday, February 5th. JPMorgan Chase & Co. boosted their price objective on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Susquehanna upped their target price on Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to MarketBeat, Silicon Motion Technology currently has a consensus rating of “Buy” and a consensus target price of $132.50.

Silicon Motion Technology Stock Performance

SIMO opened at $136.28 on Friday. Silicon Motion Technology has a 52-week low of $37.21 and a 52-week high of $144.68. The firm has a market cap of $4.63 billion, a P/E ratio of 37.44, a price-to-earnings-growth ratio of 0.95 and a beta of 1.06. The business’s fifty day moving average is $107.48 and its 200-day moving average is $94.28.

Institutional Trading of Silicon Motion Technology

Hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in shares of Silicon Motion Technology during the fourth quarter worth about $149,000. Marshall Wace LLP boosted its position in Silicon Motion Technology by 139.4% during the 4th quarter. Marshall Wace LLP now owns 132,651 shares of the semiconductor producer’s stock worth $12,297,000 after buying an additional 77,246 shares during the period. Heights Point Management LP bought a new stake in Silicon Motion Technology during the 4th quarter worth approximately $3,223,000. Schroder Investment Management Group grew its holdings in Silicon Motion Technology by 541.8% during the 4th quarter. Schroder Investment Management Group now owns 37,720 shares of the semiconductor producer’s stock worth $3,412,000 after acquiring an additional 31,843 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its position in Silicon Motion Technology by 55.4% in the 4th quarter. Arkadios Wealth Advisors now owns 4,326 shares of the semiconductor producer’s stock valued at $401,000 after acquiring an additional 1,542 shares during the period. 78.02% of the stock is owned by institutional investors and hedge funds.

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.