Silicon Motion Technology Corporation (SIMO) Receives $57.43 Consensus Target Price from Brokerages

Silicon Motion Technology Corporation (NASDAQ:SIMO) has been assigned a consensus recommendation of “Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $57.43.

Several analysts have commented on SIMO shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price (down from $56.00) on shares of Silicon Motion Technology Corporation in a research note on Friday, July 7th. B. Riley reaffirmed a “buy” rating and issued a $68.75 target price on shares of Silicon Motion Technology Corporation in a research note on Monday, August 7th. Loop Capital lifted their target price on shares of Silicon Motion Technology Corporation from $51.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 target price (down from $56.00) on shares of Silicon Motion Technology Corporation in a research note on Tuesday, August 8th. Finally, Roth Capital lowered their target price on shares of Silicon Motion Technology Corporation from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, August 1st.

Several large investors have recently bought and sold shares of the stock. ARGA Investment Management LP lifted its holdings in shares of Silicon Motion Technology Corporation by 46.1% during the 2nd quarter. ARGA Investment Management LP now owns 1,732,879 shares of the semiconductor producer’s stock valued at $83,577,000 after acquiring an additional 546,487 shares in the last quarter. Investec Asset Management LTD lifted its holdings in shares of Silicon Motion Technology Corporation by 46.4% during the 2nd quarter. Investec Asset Management LTD now owns 1,638,818 shares of the semiconductor producer’s stock valued at $79,040,000 after acquiring an additional 519,631 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Silicon Motion Technology Corporation by 170.4% during the 2nd quarter. William Blair Investment Management LLC now owns 947,862 shares of the semiconductor producer’s stock valued at $45,715,000 after acquiring an additional 597,352 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Silicon Motion Technology Corporation by 27.9% during the 2nd quarter. Teachers Advisors LLC now owns 787,674 shares of the semiconductor producer’s stock valued at $37,990,000 after acquiring an additional 171,989 shares in the last quarter. Finally, Northcape Capital Pty Ltd lifted its holdings in shares of Silicon Motion Technology Corporation by 22.8% during the 2nd quarter. Northcape Capital Pty Ltd now owns 615,653 shares of the semiconductor producer’s stock valued at $29,693,000 after acquiring an additional 114,453 shares in the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://ledgergazette.com/2017/10/18/silicon-motion-technology-corporation-simo-receives-57-43-consensus-target-price-from-brokerages.html.

Silicon Motion Technology Corporation (NASDAQ SIMO) traded up 0.60% on Friday, reaching $52.37. The company had a trading volume of 580,338 shares. The stock has a market capitalization of $1.87 billion, a PE ratio of 17.70 and a beta of 0.70. Silicon Motion Technology Corporation has a 52-week low of $37.37 and a 52-week high of $55.68. The stock has a 50 day moving average price of $47.52 and a 200 day moving average price of $47.19.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last released its earnings results on Monday, July 31st. The semiconductor producer reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.04). The firm had revenue of $132.70 million during the quarter, compared to analysts’ expectations of $132.92 million. Silicon Motion Technology Corporation had a return on equity of 24.24% and a net margin of 18.91%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. Analysts expect that Silicon Motion Technology Corporation will post $2.69 EPS for the current year.

Silicon Motion Technology Corporation declared that its board has authorized a stock buyback plan on Monday, July 31st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the semiconductor producer to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Several analysts have commented on SIMO shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price (down from $56.00) on shares of Silicon Motion Technology Corporation in a research note on Friday, July 7th. B. Riley reaffirmed a “buy” rating and issued a $68.75 target price on shares of Silicon Motion Technology Corporation in a research note on Monday, August 7th. Loop Capital lifted their target price on shares of Silicon Motion Technology Corporation from $51.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 target price (down from $56.00) on shares of Silicon Motion Technology Corporation in a research note on Tuesday, August 8th. Finally, Roth Capital lowered their target price on shares of Silicon Motion Technology Corporation from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, August 1st.

Several large investors have recently bought and sold shares of the stock. ARGA Investment Management LP lifted its holdings in shares of Silicon Motion Technology Corporation by 46.1% during the 2nd quarter. ARGA Investment Management LP now owns 1,732,879 shares of the semiconductor producer’s stock valued at $83,577,000 after acquiring an additional 546,487 shares in the last quarter. Investec Asset Management LTD lifted its holdings in shares of Silicon Motion Technology Corporation by 46.4% during the 2nd quarter. Investec Asset Management LTD now owns 1,638,818 shares of the semiconductor producer’s stock valued at $79,040,000 after acquiring an additional 519,631 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Silicon Motion Technology Corporation by 170.4% during the 2nd quarter. William Blair Investment Management LLC now owns 947,862 shares of the semiconductor producer’s stock valued at $45,715,000 after acquiring an additional 597,352 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Silicon Motion Technology Corporation by 27.9% during the 2nd quarter. Teachers Advisors LLC now owns 787,674 shares of the semiconductor producer’s stock valued at $37,990,000 after acquiring an additional 171,989 shares in the last quarter. Finally, Northcape Capital Pty Ltd lifted its holdings in shares of Silicon Motion Technology Corporation by 22.8% during the 2nd quarter. Northcape Capital Pty Ltd now owns 615,653 shares of the semiconductor producer’s stock valued at $29,693,000 after acquiring an additional 114,453 shares in the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://ledgergazette.com/2017/10/18/silicon-motion-technology-corporation-simo-receives-57-43-consensus-target-price-from-brokerages.html.

Silicon Motion Technology Corporation (NASDAQ SIMO) traded up 0.60% on Friday, reaching $52.37. The company had a trading volume of 580,338 shares. The stock has a market capitalization of $1.87 billion, a PE ratio of 17.70 and a beta of 0.70. Silicon Motion Technology Corporation has a 52-week low of $37.37 and a 52-week high of $55.68. The stock has a 50 day moving average price of $47.52 and a 200 day moving average price of $47.19.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last released its earnings results on Monday, July 31st. The semiconductor producer reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.04). The firm had revenue of $132.70 million during the quarter, compared to analysts’ expectations of $132.92 million. Silicon Motion Technology Corporation had a return on equity of 24.24% and a net margin of 18.91%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. Analysts expect that Silicon Motion Technology Corporation will post $2.69 EPS for the current year.

Silicon Motion Technology Corporation declared that its board has authorized a stock buyback plan on Monday, July 31st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the semiconductor producer to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Silicon Motion Technology Corporation

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Analyst Recommendations for Silicon Motion Technology Corporation (NASDAQ:SIMO)

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