B. Riley reiterated their buy rating on shares of Silicon Motion Technology (NASDAQ:SIMO) in a research report sent to investors on Monday morning. The firm currently has a $68.75 price objective on the semiconductor producer’s stock.
Several other equities analysts have also recently issued reports on SIMO. Needham & Company LLC restated a buy rating and set a $54.00 target price on shares of Silicon Motion Technology in a research note on Friday, September 22nd. Zacks Investment Research upgraded shares of Silicon Motion Technology from a strong sell rating to a hold rating in a research note on Tuesday, October 3rd. Loop Capital upped their target price on shares of Silicon Motion Technology from $51.00 to $59.00 and gave the company a buy rating in a research note on Monday, October 9th. Roth Capital upped their price target on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the company a buy rating in a research report on Tuesday, October 24th. Finally, Northland Securities reaffirmed a buy rating and set a $60.00 price target on shares of Silicon Motion Technology in a research report on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $57.23.
Silicon Motion Technology (NASDAQ:SIMO) traded up $0.45 on Monday, reaching $51.70. 750,800 shares of the company’s stock traded hands, compared to its average volume of 772,250. The company has a market cap of $1,800.00, a PE ratio of 20.20 and a beta of 0.66. Silicon Motion Technology has a 1-year low of $37.37 and a 1-year high of $56.51.
Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $127.24 million. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. The business’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. sell-side analysts anticipate that Silicon Motion Technology will post 2.31 earnings per share for the current year.
The firm also recently declared a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be given a dividend of $0.298 per share. This represents a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, February 9th. Silicon Motion Technology’s payout ratio is currently 34.77%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARGA Investment Management LP increased its holdings in Silicon Motion Technology by 6.2% in the 3rd quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock worth $88,365,000 after acquiring an additional 106,900 shares in the last quarter. Investec Asset Management LTD grew its holdings in Silicon Motion Technology 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 buying an additional 519,631 shares in the last quarter. Royce & Associates LP grew its holdings in Silicon Motion Technology by 78.0% during the 3rd quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock valued at $38,498,000 after buying an additional 351,140 shares in the last quarter. Teachers Advisors LLC grew its holdings in Silicon Motion Technology 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 buying an additional 171,989 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Silicon Motion Technology by 64.7% during the 3rd quarter. Janus Henderson Group PLC now owns 700,076 shares of the semiconductor producer’s stock valued at $33,639,000 after buying an additional 275,089 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.
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About Silicon Motion Technology
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.
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