Needham & Company LLC reiterated their buy rating on shares of Silicon Motion Technology (NASDAQ:SIMO) in a research note issued to investors on Wednesday, January 17th. The firm currently has a $57.00 price objective on the semiconductor producer’s stock.
Other analysts have also recently issued research reports about the company. B. Riley restated a buy rating and set a $68.75 target price on shares of Silicon Motion Technology in a report on Monday, January 8th. ValuEngine upgraded Silicon Motion Technology from a hold rating to a buy rating in a report on Sunday, December 31st. Northland Securities restated a buy rating and set a $60.00 target price on shares of Silicon Motion Technology in a report on Sunday, October 29th. Roth Capital raised their price target on Silicon Motion Technology from $55.00 to $60.00 and gave the company a buy rating in a report on Tuesday, October 24th. Finally, Loop Capital raised their price target on Silicon Motion Technology from $51.00 to $59.00 and gave the company a buy rating in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Silicon Motion Technology currently has a consensus rating of Buy and a consensus target price of $56.56.
Silicon Motion Technology (NASDAQ:SIMO) opened at $44.67 on Wednesday. Silicon Motion Technology has a 12 month low of $39.91 and a 12 month high of $56.51. The stock has a market capitalization of $1,575.98, a price-to-earnings ratio of 21.48 and a beta of 0.46.
The firm also recently declared 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 is Friday, February 9th. Silicon Motion Technology’s dividend payout ratio is currently 42.79%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new stake in shares of Silicon Motion Technology during the third quarter worth about $101,000. Advisors Preferred LLC raised its position in Silicon Motion Technology by 451.0% in the 3rd 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 last quarter. Seven Eight Capital LP acquired a new stake in Silicon Motion Technology in the 2nd quarter valued at approximately $135,000. Boothbay Fund Management LLC acquired a new stake in Silicon Motion Technology in the 3rd quarter valued at approximately $251,000. Finally, Virtu KCG Holdings LLC raised its position in 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 valued at $278,000 after buying an additional 1,164 shares during the last quarter. 83.10% of the stock is currently owned by 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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