Silicon Motion Technology Corp. (NASDAQ:SIMO) – B. Riley raised their Q1 2018 earnings estimates for shares of Silicon Motion Technology in a report issued on Wednesday. B. Riley analyst M. Crawford now anticipates that the semiconductor producer will earn $0.58 per share for the quarter, up from their prior forecast of $0.57. B. Riley has a “Buy” rating and a $68.75 price objective on the stock. B. Riley also issued estimates for Silicon Motion Technology’s Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $2.97 EPS and FY2019 earnings at $3.60 EPS.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. KeyCorp restated a “buy” rating and issued a $54.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, January 17th. Finally, Susquehanna Bancshares restated a “neutral” rating and issued a $48.00 price objective (down previously from $60.00) on shares of Silicon Motion Technology in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $56.56.
Silicon Motion Technology (SIMO) opened at $44.69 on Monday. The company has a market cap of $1,580.00, a price-to-earnings ratio of 21.28 and a beta of 0.47. Silicon Motion Technology has a 12 month low of $39.91 and a 12 month 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 issued a $0.298 dividend. The ex-dividend date is Friday, February 9th. This represents a dividend yield of 2.12%. Silicon Motion Technology’s payout ratio is 47.14%.
Large investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new stake in shares of Silicon Motion Technology in the third quarter valued at about $101,000. Advisors Preferred LLC raised its holdings 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 last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Silicon Motion Technology in the third quarter valued at about $251,000. Virtu KCG Holdings LLC raised its holdings in shares of Silicon Motion Technology by 25.3% in the second 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. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Silicon Motion Technology in the second quarter valued at about $399,000. 83.10% of the stock is owned by institutional investors and hedge funds.
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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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