StockNews.com Downgrades Silicon Motion Technology (NASDAQ:SIMO) to Hold

StockNews.com downgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a buy rating to a hold rating in a research note released on Tuesday morning.

Other analysts have also issued reports about the stock. Needham & Company LLC reduced their price target on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Susquehanna lowered their price target on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Friday, November 1st. Roth Mkm cut their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Finally, Craig Hallum lowered their target price on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Silicon Motion Technology Stock Performance

SIMO stock opened at $53.57 on Tuesday. Silicon Motion Technology has a 1 year low of $48.81 and a 1 year high of $85.87. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.29 and a beta of 0.80. The stock’s fifty day moving average is $54.56 and its two-hundred day moving average is $58.45.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.85 by $0.07. The firm 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%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. As a group, analysts predict that Silicon Motion Technology will post 2.58 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be given a $0.50 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.73%. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.38%.

Institutional Trading of Silicon Motion Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its position in shares of Silicon Motion Technology by 129.4% in the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after acquiring an additional 251 shares in the last quarter. GAMMA Investing LLC boosted its stake in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after purchasing an additional 484 shares during the period. Blue Trust Inc. grew its position in Silicon Motion Technology by 139.5% during the 3rd quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock worth $83,000 after purchasing an additional 795 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Silicon Motion Technology during the 3rd quarter valued at $151,000. Finally, Choreo LLC purchased a new stake in shares of Silicon Motion Technology in the fourth quarter valued at $209,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

About Silicon Motion Technology

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.