Lake Street Capital set a $46.00 price objective on Silicon Motion Technology (NASDAQ:SIMO) in a research note published on Thursday, The Fly reports. The firm currently has a buy rating on the semiconductor producer’s stock.
SIMO has been the subject of a number of other reports. BidaskClub cut shares of Silicon Motion Technology from a sell rating to a strong sell rating in a research report on Wednesday. KeyCorp began coverage on shares of Silicon Motion Technology in a research report on Tuesday, September 25th. They set a sector weight rating and a $60.00 price objective for the company. Zacks Investment Research upgraded shares of Silicon Motion Technology from a hold rating to a buy rating and set a $57.00 price objective for the company in a research report on Monday, October 8th. ValuEngine cut shares of Silicon Motion Technology from a hold rating to a sell rating in a research report on Saturday, October 27th. Finally, Morgan Stanley upgraded shares of Silicon Motion Technology from an equal weight rating to an overweight rating and set a $59.00 price target for the company in a research report on Friday, September 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Silicon Motion Technology has an average rating of Buy and an average price target of $56.31.
SIMO stock traded up $0.85 during trading on Thursday, reaching $40.72. 435,027 shares of the company were exchanged, compared to its average volume of 415,115. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 19.48 and a beta of 0.42. Silicon Motion Technology has a twelve month low of $35.25 and a twelve month high of $61.85.
Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, October 30th. The semiconductor producer reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.07. The business had revenue of $138.60 million during the quarter, compared to analysts’ expectations of $137.36 million. Silicon Motion Technology had a net margin of 17.10% and a return on equity of 18.45%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. On average, analysts predict that Silicon Motion Technology will post 3.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, November 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 56.94%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pitcairn Co. acquired a new position in Silicon Motion Technology in the 2nd quarter valued at approximately $201,000. A.R.T. Advisors LLC acquired a new position in Silicon Motion Technology in the 1st quarter valued at approximately $213,000. FNY Investment Advisers LLC acquired a new position in Silicon Motion Technology in the 2nd quarter valued at approximately $285,000. Weil Company Inc. acquired a new position in Silicon Motion Technology in the 2nd quarter valued at approximately $311,000. Finally, OppenheimerFunds Inc. acquired a new position in Silicon Motion Technology in the 2nd quarter valued at approximately $396,000. Hedge funds and other institutional investors own 74.95% of the company’s stock.
Silicon Motion Technology Company Profile
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.
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