Silicon Motion Technology Co. (NASDAQ:SIMO) Receives $81.67 Consensus PT from Analysts

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $81.67.

A number of equities analysts recently issued reports on SIMO shares. Susquehanna lowered their price target on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a report on Friday, November 1st. Needham & Company LLC lowered their target price on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Craig Hallum dropped their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Morgan Stanley dropped their price objective on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th.

Silicon Motion Technology Trading Up 2.1 %

Shares of NASDAQ:SIMO opened at $56.30 on Friday. The company has a market cap of $1.90 billion, a PE ratio of 21.33, a P/E/G ratio of 1.61 and a beta of 0.80. The company’s 50 day moving average is $54.93 and its two-hundred day moving average is $61.69. Silicon Motion Technology has a 52 week low of $50.50 and a 52 week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million for the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. Silicon Motion Technology’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. As a group, equities research analysts expect that Silicon Motion Technology will post 2.59 EPS for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.76%.

Hedge Funds Weigh In On Silicon Motion Technology

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Silicon Motion Technology by 27.7% in the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after purchasing an additional 485,862 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Silicon Motion Technology by 21.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock valued at $67,051,000 after buying an additional 196,609 shares during the last quarter. Reinhart Partners LLC. increased its stake in Silicon Motion Technology by 43.3% in the 3rd quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock valued at $65,622,000 after buying an additional 326,358 shares during the period. Millennium Management LLC raised its position in Silicon Motion Technology by 15.3% during the 2nd quarter. Millennium Management LLC now owns 791,823 shares of the semiconductor producer’s stock worth $64,130,000 after buying an additional 105,084 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter worth $40,331,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.