Silicon Motion Technology (NASDAQ:SIMO) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.
Other equities research analysts have also issued research reports about the company. Lake Street Capital set a $46.00 target price on Silicon Motion Technology and gave the company a “buy” rating in a research report on Thursday. B. Riley dropped their target price on Silicon Motion Technology from $68.75 to $57.00 and set a “buy” rating on the stock in a research report on Thursday. Roth Capital lifted their target price on Silicon Motion Technology to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, August 1st. Finally, Zacks Investment Research lowered Silicon Motion Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $56.31.
Shares of Silicon Motion Technology stock opened at $39.87 on Friday. Silicon Motion Technology has a 52-week low of $35.25 and a 52-week high of $61.85. The company has a market capitalization of $1.39 billion, a P/E ratio of 19.08 and a beta of 0.42.
Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Tuesday, October 30th. The semiconductor producer reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. Silicon Motion Technology had a return on equity of 18.45% and a net margin of 17.10%. The business had revenue of $138.60 million for the quarter, compared to analyst estimates of $137.36 million. During the same quarter last year, the firm earned $0.57 EPS. Silicon Motion Technology’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts expect that Silicon Motion Technology will post 3.12 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of SIMO. Pitcairn Co. bought a new position in Silicon Motion Technology in the second quarter valued at approximately $201,000. A.R.T. Advisors LLC bought a new position in Silicon Motion Technology in the first quarter valued at approximately $213,000. FNY Investment Advisers LLC bought a new position in Silicon Motion Technology in the second quarter valued at approximately $285,000. Weil Company Inc. bought a new position in Silicon Motion Technology in the second quarter valued at approximately $311,000. Finally, OppenheimerFunds Inc. bought a new position in Silicon Motion Technology in the second 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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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