Silicon Motion Technology (NASDAQ:SIMO)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a note issued to investors on Tuesday. They currently have a $68.75 target price on the semiconductor producer’s stock. B. Riley’s price target would indicate a potential upside of 44.95% from the company’s current price.
A number of other equities research analysts have also commented on SIMO. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price target on shares of Silicon Motion Technology in a report on Friday, September 22nd. Zacks Investment Research upgraded shares of Silicon Motion Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Loop Capital upped their price target on shares of Silicon Motion Technology from $51.00 to $59.00 and gave the company a “buy” rating in a report on Monday, October 9th. Roth Capital upped their price target on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, Northland Securities reiterated a “buy” rating and set a $60.00 price target on shares of Silicon Motion Technology in a report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $56.52.
Silicon Motion Technology (NASDAQ:SIMO) traded up $1.34 during trading hours on Tuesday, reaching $47.43. 1,511,600 shares of the company were exchanged, compared to its average volume of 978,100. Silicon Motion Technology has a 52 week low of $37.37 and a 52 week high of $56.51. The company has a market cap of $1,628.27, a price-to-earnings ratio of 18.67 and a beta of 0.65.
Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. The company had revenue of $127.20 million during the quarter, compared to analyst estimates of $127.24 million. During the same period in the prior year, the business posted $1.07 EPS. The firm’s revenue was down 19.8% compared to the same quarter last year. analysts expect that Silicon Motion Technology will post 2.31 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. purchased a new position in Silicon Motion Technology during the 3rd quarter valued at $101,000. Advisors Preferred LLC grew its position in shares of Silicon Motion Technology by 451.0% in the 3rd quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock worth $128,000 after buying an additional 2,183 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter worth about $135,000. Boothbay Fund Management LLC purchased a new stake in shares of Silicon Motion Technology in the 3rd quarter worth about $251,000. Finally, Virtu KCG Holdings LLC grew its position in shares of Silicon Motion Technology by 25.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock worth $278,000 after buying an additional 1,164 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.
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Silicon Motion Technology Company Profile
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.
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