Silicon Motion Technology Corp. (SIMO) Receives $56.70 Average PT from Brokerages

Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have received an average rating of “Buy” from the seventeen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $56.70.

A number of brokerages recently issued reports on SIMO. Zacks Investment Research raised shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. BidaskClub cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. KeyCorp reissued 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 reissued 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, B. Riley reissued a “buy” rating and issued a $68.75 price objective on shares of Silicon Motion Technology in a research note on Tuesday, January 16th.

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Silicon Motion Technology (NASDAQ SIMO) traded up $0.50 during midday trading on Wednesday, hitting $46.78. 151,308 shares of the stock were exchanged, compared to its average volume of 359,153. Silicon Motion Technology has a 52 week low of $40.33 and a 52 week high of $56.51. The firm has a market capitalization of $1,634.98, a P/E ratio of 22.49 and a beta of 0.53.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.21). Silicon Motion Technology had a net margin of 14.34% and a return on equity of 15.33%. The business had revenue of $136.17 million during the quarter, compared to analyst estimates of $135.00 million. research analysts predict that Silicon Motion Technology will post 2.97 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Shareholders of record on Thursday, August 9th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.57%. Silicon Motion Technology’s payout ratio is presently 47.60%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of Silicon Motion Technology by 14.1% during the fourth quarter. SG Americas Securities LLC now owns 11,234 shares of the semiconductor producer’s stock worth $595,000 after buying an additional 1,390 shares during the last quarter. DnB Asset Management AS grew its stake in shares of Silicon Motion Technology by 11.8% during the fourth quarter. DnB Asset Management AS now owns 13,300 shares of the semiconductor producer’s stock worth $704,000 after buying an additional 1,400 shares during the last quarter. Prince Street Capital Management LLC grew its stake in shares of Silicon Motion Technology by 1.7% during the fourth quarter. Prince Street Capital Management LLC now owns 114,300 shares of the semiconductor producer’s stock worth $6,054,000 after buying an additional 1,900 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Silicon Motion Technology by 3.0% during the third quarter. California Public Employees Retirement System now owns 69,103 shares of the semiconductor producer’s stock worth $3,319,000 after buying an additional 2,003 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Silicon Motion Technology during the third quarter worth $101,000. 85.87% 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.

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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