Silicon Motion (NASDAQ:SIMO) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.
A number of other equities research analysts have also recently weighed in on SIMO. JPMorgan Chase assumed coverage on shares of Silicon Motion in a research note on Wednesday, March 28th. They set a “buy” rating and a $60.00 price objective on the stock. Zacks Investment Research upgraded shares of Silicon Motion from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. UBS cut shares of Silicon Motion from a “positive” rating to a “neutral” rating in a research note on Tuesday, January 16th. KeyCorp restated a “buy” rating and set a $54.00 price objective on shares of Silicon Motion in a research note on Wednesday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of Silicon Motion in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.98.
Shares of NASDAQ SIMO opened at $48.13 on Tuesday. Silicon Motion has a fifty-two week low of $40.33 and a fifty-two week high of $56.51. The stock has a market cap of $1,723.65, a P/E ratio of 23.03 and a beta of 0.60.
Silicon Motion (NASDAQ:SIMO) last issued its quarterly earnings data 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 had a net margin of 14.34% and a return on equity of 15.33%. The company had revenue of $136.17 million for the quarter, compared to the consensus estimate of $135.00 million. research analysts predict that Silicon Motion will post 2.98 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in SIMO. State Street Corp grew its holdings in Silicon Motion by 10.7% during the second quarter. State Street Corp now owns 36,417 shares of the semiconductor producer’s stock worth $1,757,000 after acquiring an additional 3,509 shares during the period. Ameriprise Financial Inc. grew its holdings in Silicon Motion by 69.2% during the third quarter. Ameriprise Financial Inc. now owns 144,631 shares of the semiconductor producer’s stock worth $6,947,000 after acquiring an additional 59,175 shares during the period. Wells Fargo & Company MN grew its holdings in Silicon Motion by 236.2% during the third quarter. Wells Fargo & Company MN now owns 197,230 shares of the semiconductor producer’s stock worth $9,473,000 after acquiring an additional 138,571 shares during the period. Janus Henderson Group PLC grew its holdings in Silicon Motion by 64.7% during the third quarter. Janus Henderson Group PLC now owns 700,076 shares of the semiconductor producer’s stock worth $33,639,000 after acquiring an additional 275,089 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Silicon Motion by 14.6% during the third quarter. Janney Montgomery Scott LLC now owns 24,254 shares of the semiconductor producer’s stock worth $1,165,000 after acquiring an additional 3,097 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.
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Silicon Motion Company Profile
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile storage and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded MultiMediaCard (eMMC), client solid-state drive (SSD), flash memory card, and Universal Serial Bus flash drive controllers.
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