Analysts Set Silicon Motion Technology Co. (NASDAQ:SIMO) Price Target at $81.67

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $81.67.

Several equities research analysts have issued reports on SIMO shares. B. Riley decreased their price target on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Roth Mkm dropped their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Needham & Company LLC lowered their price objective 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. Finally, StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $54.59 on Friday. Silicon Motion Technology has a 1-year low of $50.50 and a 1-year high of $85.87. The business’s fifty day moving average price is $56.52 and its 200 day moving average price is $67.35. The firm has a market capitalization of $1.84 billion, a PE ratio of 20.10, a P/E/G ratio of 1.46 and a beta of 0.84.

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

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.00 annualized dividend and a yield of 3.66%. Silicon Motion Technology’s dividend payout ratio is presently 75.38%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in Silicon Motion Technology by 34.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,700 shares of the semiconductor producer’s stock valued at $362,000 after acquiring an additional 1,200 shares during the period. BNP Paribas Financial Markets lifted its stake in Silicon Motion Technology by 69.7% in the 1st quarter. BNP Paribas Financial Markets now owns 8,400 shares of the semiconductor producer’s stock worth $646,000 after acquiring an additional 3,449 shares in the last quarter. Sei Investments Co. lifted its position in shares of Silicon Motion Technology by 207.3% in the first quarter. Sei Investments Co. now owns 56,039 shares of the semiconductor producer’s stock worth $4,312,000 after purchasing an additional 37,806 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Silicon Motion Technology by 59.4% during the first quarter. Russell Investments Group Ltd. now owns 114,457 shares of the semiconductor producer’s stock worth $8,762,000 after purchasing an additional 42,650 shares during the period. Finally, HBK Sorce Advisory LLC purchased a new position in Silicon Motion Technology during the first quarter valued at approximately $204,000. 78.02% of the stock is currently owned by institutional investors.

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.