Shares of Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) have been assigned a consensus rating of “Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $103.11.
Several equities research analysts have recently issued reports on SIMO shares. B. Riley raised their price target on Silicon Motion Technology from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 28th. Zacks Investment Research upgraded shares of Silicon Motion Technology from a “strong sell” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Wednesday, February 2nd. Cowen increased their target price on shares of Silicon Motion Technology from $105.00 to $110.00 in a research note on Friday, January 28th. StockNews.com assumed coverage on shares of Silicon Motion Technology in a research note on Thursday. They issued a “buy” rating for the company. Finally, Needham & Company LLC increased their target price on shares of Silicon Motion Technology from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, January 28th.
Shares of NASDAQ:SIMO traded down $0.90 during midday trading on Monday, hitting $65.92. The company’s stock had a trading volume of 521,357 shares, compared to its average volume of 479,495. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.10 and a beta of 1.21. The stock’s 50 day simple moving average is $73.75 and its 200 day simple moving average is $76.54. Silicon Motion Technology has a fifty-two week low of $58.86 and a fifty-two week high of $96.89.
Silicon Motion Technology (NASDAQ:SIMO – Get Rating) last issued its quarterly earnings results on Wednesday, January 26th. The semiconductor producer reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.16. The company had revenue of $264.36 million for the quarter, compared to the consensus estimate of $263.85 million. Silicon Motion Technology had a return on equity of 30.69% and a net margin of 21.68%. During the same period last year, the business posted $0.04 earnings per share. Analysts forecast that Silicon Motion Technology will post 7.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Monday, February 14th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, February 11th. Silicon Motion Technology’s dividend payout ratio is 34.85%.
Several large investors have recently bought and sold shares of SIMO. Goldman Sachs Group Inc. raised its stake in shares of Silicon Motion Technology by 6.5% in the second quarter. Goldman Sachs Group Inc. now owns 21,738 shares of the semiconductor producer’s stock valued at $1,393,000 after acquiring an additional 1,326 shares during the last quarter. Invesco Ltd. raised its stake in shares of Silicon Motion Technology by 14.2% in the second quarter. Invesco Ltd. now owns 148,477 shares of the semiconductor producer’s stock valued at $9,517,000 after acquiring an additional 18,480 shares during the last quarter. Henry James International Management Inc. increased its holdings in shares of Silicon Motion Technology by 1.1% in the third quarter. Henry James International Management Inc. now owns 24,099 shares of the semiconductor producer’s stock valued at $1,662,000 after purchasing an additional 267 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at approximately $1,838,000. Finally, Baillie Gifford & Co. increased its holdings in shares of Silicon Motion Technology by 0.6% in the third quarter. Baillie Gifford & Co. now owns 651,703 shares of the semiconductor producer’s stock valued at $44,955,000 after purchasing an additional 3,768 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.
About Silicon Motion Technology (Get Rating)
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers SSDs used in PCs and other devices, as well as eMMC and UFS mobile embedded storage used in smartphones and IOT devices. The company also provides enterprise-grade SSDs used in data centers; and small form-factor specialized SSDs used in industrial, commercial, and automotive applications.
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