ValuEngine Lowers Silicon Motion Technology (SIMO) to Hold

ValuEngine downgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a buy rating to a hold rating in a report released on Wednesday, November 15th.

Several other research analysts have also recently issued reports on the company. Northland Securities reaffirmed a buy rating and issued a $60.00 price target on shares of Silicon Motion Technology in a report on Sunday, October 29th. Needham & Company LLC reissued a buy rating and set a $57.00 target price on shares of Silicon Motion Technology in a research note on Friday, October 27th. B. Riley set a $69.00 target price on shares of Silicon Motion Technology and gave the company a buy rating in a research note on Wednesday, October 25th. Roth Capital boosted their target price on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the company a buy rating in a research note on Tuesday, October 24th. Finally, Loop Capital upped their price target on shares of Silicon Motion Technology from $51.00 to $59.00 and gave the stock a buy rating in a research note on Monday, October 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Silicon Motion Technology currently has an average rating of Buy and an average target price of $57.67.

Silicon Motion Technology (SIMO) traded up $0.42 on Wednesday, reaching $51.99. The company’s stock had a trading volume of 503,742 shares, compared to its average volume of 607,027. The firm has a market capitalization of $1,821.86, a P/E ratio of 19.61 and a beta of 0.64. Silicon Motion Technology has a 12-month low of $37.37 and a 12-month high of $55.68.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $127.24 million. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The firm’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Thursday, November 9th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 8th. This is a boost from Silicon Motion Technology’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 2.31%. Silicon Motion Technology’s dividend payout ratio is currently 35.04%.

Large investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. bought a new stake in Silicon Motion Technology during the third quarter valued at about $101,000. Advisors Preferred LLC lifted its stake in shares of Silicon Motion Technology by 451.0% in the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after buying an additional 2,183 shares during the period. Seven Eight Capital LP bought a new stake in shares of Silicon Motion Technology in the second quarter valued at about $135,000. Hikari Power Ltd bought a new stake in shares of Silicon Motion Technology in the second quarter valued at about $204,000. Finally, Summit Securities Group LLC bought a new stake in shares of Silicon Motion Technology in the second quarter valued at about $204,000. Hedge funds and other institutional investors own 82.84% of the company’s stock.

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About Silicon Motion Technology

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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