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

Silicon Motion Technology Co. (NASDAQ:SIMO) has been given an average recommendation of “Moderate Buy” by 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 12 month price objective among brokerages that have issued a report on the stock in the last year is $81.67.

A number of research analysts have recently weighed in on SIMO shares. Needham & Company LLC cut their price target on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Susquehanna cut their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Roth Mkm lowered their target price on 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. StockNews.com lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd.

Institutional Investors Weigh In On Silicon Motion Technology

A number of institutional investors have recently made changes to their positions in SIMO. Advisors Asset Management Inc. lifted its holdings in Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after purchasing an additional 251 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after buying an additional 484 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Silicon Motion Technology by 139.5% in the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock valued at $83,000 after acquiring an additional 795 shares during the period. Van ECK Associates Corp acquired a new position in shares of Silicon Motion Technology in the third quarter valued at about $151,000. Finally, Truist Financial Corp bought a new position in Silicon Motion Technology during the second quarter worth about $236,000. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 1.9 %

Shares of NASDAQ SIMO opened at $54.61 on Wednesday. The firm has a market capitalization of $1.84 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80. The firm’s 50-day moving average is $54.54 and its 200-day moving average is $57.97. Silicon Motion Technology has a 1 year low of $48.81 and a 1 year high of $85.87.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be issued a $0.50 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.00 annualized dividend and a yield of 3.66%. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

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.