Silicon Motion Technology (NASDAQ:SIMO) Rating Reiterated by B. Riley

Silicon Motion Technology (NASDAQ:SIMO)‘s stock had its “buy” rating reaffirmed by stock analysts at B. Riley in a note issued to investors on Monday, January 8th. They presently have a $68.75 price objective on the semiconductor producer’s stock. B. Riley’s price objective suggests a potential upside of 36.52% from the stock’s previous close.

Several other analysts also recently weighed in on the company. KeyCorp increased their target price on Silicon Motion Technology from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. Summit Redstone upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. ValuEngine upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Needham & Company LLC restated a “buy” rating and set a $57.00 target price on shares of Silicon Motion Technology in a research note on Friday, October 27th. Finally, BidaskClub upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $57.06.

Shares of Silicon Motion Technology (SIMO) traded up $0.68 during trading hours on Monday, reaching $50.36. The company had a trading volume of 292,189 shares, compared to its average volume of 747,750. Silicon Motion Technology has a 1 year low of $38.39 and a 1 year high of $56.51. The company has a market cap of $1,780.00, a P/E ratio of 19.59 and a beta of 0.66.

Several institutional investors have recently bought and sold shares of the stock. ARGA Investment Management LP lifted its position in shares of Silicon Motion Technology by 6.2% during the 3rd quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock worth $88,365,000 after buying an additional 106,900 shares during the period. Investec Asset Management LTD lifted its position in shares of Silicon Motion Technology by 46.4% during the 2nd quarter. Investec Asset Management LTD now owns 1,638,818 shares of the semiconductor producer’s stock worth $79,040,000 after buying an additional 519,631 shares during the period. Royce & Associates LP lifted its position in shares of Silicon Motion Technology by 78.0% during the 3rd quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock worth $38,498,000 after buying an additional 351,140 shares during the period. Teachers Advisors LLC lifted its position in shares of Silicon Motion Technology by 27.9% during the 2nd quarter. Teachers Advisors LLC now owns 787,674 shares of the semiconductor producer’s stock worth $37,990,000 after buying an additional 171,989 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Silicon Motion Technology by 64.7% during the 3rd quarter. Janus Henderson Group PLC now owns 700,076 shares of the semiconductor producer’s stock worth $33,639,000 after buying an additional 275,089 shares during the period. Institutional investors and hedge funds own 82.95% 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.

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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