Silicon Motion Technology (NASDAQ:SIMO) will post its quarterly earnings results after the market closes on Tuesday, February 6th. Analysts expect Silicon Motion Technology to post earnings of $0.62 per share for the quarter.
Shares of Silicon Motion Technology (SIMO) opened at $49.56 on Friday. The stock has a market cap of $1,779.12, a PE ratio of 19.51 and a beta of 0.46. Silicon Motion Technology has a 1 year low of $38.59 and a 1 year high of $56.51.
The firm also recently announced a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be given a dividend of $0.298 per share. This represents a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, February 9th. Silicon Motion Technology’s dividend payout ratio is 35.04%.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Needham & Company LLC restated a “buy” rating and set a $57.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, January 17th. B. Riley restated a “buy” rating and set a $68.75 target price on shares of Silicon Motion Technology in a research report on Tuesday, January 16th. Susquehanna Bancshares restated a “neutral” rating and set a $48.00 target price (down from $60.00) on shares of Silicon Motion Technology in a research report on Tuesday, January 16th. Finally, UBS Group cut shares of Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Silicon Motion Technology currently has an average rating of “Buy” and a consensus target price of $57.06.
A hedge fund recently raised its stake in Silicon Motion Technology stock. State Street Corp boosted its position in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 10.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,417 shares of the semiconductor producer’s stock after purchasing an additional 3,509 shares during the period. State Street Corp owned about 0.10% of Silicon Motion Technology worth $1,757,000 as of its most recent SEC filing. 82.95% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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