Silicon Motion Technology (NASDAQ:SIMO) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.
SIMO has been the subject of a number of other research reports. Morgan Stanley downgraded shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 22nd. Cowen reissued an “outperform” rating and issued a $45.00 price target (up from $43.00) on shares of Silicon Motion Technology in a research report on Monday, May 6th. B. Riley boosted their price target on shares of Silicon Motion Technology from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, BidaskClub cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Silicon Motion Technology currently has an average rating of “Hold” and a consensus target price of $47.58.
Shares of SIMO stock traded down $1.11 on Thursday, reaching $34.01. 448,130 shares of the stock were exchanged, compared to its average volume of 340,653. The company’s 50 day moving average price is $41.78. The stock has a market cap of $1.31 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 3.80 and a beta of 1.04. Silicon Motion Technology has a twelve month low of $31.73 and a twelve month high of $61.85.
Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Tuesday, July 30th. The semiconductor producer reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $98.80 million during the quarter, compared to the consensus estimate of $97.33 million. Silicon Motion Technology had a net margin of 17.84% and a return on equity of 17.90%. The company’s revenue was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Sell-side analysts predict that Silicon Motion Technology will post 1.9 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in SIMO. Quantamental Technologies LLC purchased a new stake in Silicon Motion Technology in the first quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Silicon Motion Technology by 201.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 923 shares of the semiconductor producer’s stock valued at $37,000 after buying an additional 617 shares during the last quarter. CWM LLC raised its holdings in shares of Silicon Motion Technology by 3,624.1% in the second quarter. CWM LLC now owns 1,080 shares of the semiconductor producer’s stock valued at $48,000 after buying an additional 1,051 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Silicon Motion Technology by 50.0% in the first quarter. Penserra Capital Management LLC now owns 1,320 shares of the semiconductor producer’s stock valued at $52,000 after buying an additional 440 shares during the last quarter. Finally, Private Capital Group LLC raised its holdings in shares of Silicon Motion Technology by 63.5% in the first quarter. Private Capital Group LLC now owns 1,630 shares of the semiconductor producer’s stock valued at $65,000 after buying an additional 633 shares during the last quarter. 69.98% of the stock is owned by hedge funds and other institutional investors.
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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