Silicon Motion Technology Corp. (NASDAQ:SIMO) has been assigned a consensus rating of “Buy” from the seventeen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $56.70.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Silicon Motion Technology from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. BidaskClub downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. KeyCorp restated a “buy” rating and set a $54.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, February 7th. Needham & Company LLC restated a “buy” rating and set a $57.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, January 17th. Finally, B. Riley restated a “buy” rating and set a $68.75 target price on shares of Silicon Motion Technology in a research report on Tuesday, January 16th.
Silicon Motion Technology (NASDAQ SIMO) opened at $45.60 on Wednesday. The company has a market capitalization of $1,670.31, a price-to-earnings ratio of 21.92 and a beta of 0.53. Silicon Motion Technology has a one year low of $40.33 and a one year high of $56.51.
Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.21). The business had revenue of $136.17 million during the quarter, compared to analyst estimates of $135.00 million. Silicon Motion Technology had a return on equity of 15.33% and a net margin of 14.34%. equities research analysts anticipate that Silicon Motion Technology will post 2.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Thursday, August 9th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, August 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.63%. Silicon Motion Technology’s dividend payout ratio is presently 47.60%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sylebra HK Co Ltd increased its holdings in Silicon Motion Technology by 444.8% in the fourth quarter. Sylebra HK Co Ltd now owns 534,440 shares of the semiconductor producer’s stock valued at $28,304,000 after purchasing an additional 436,339 shares during the last quarter. Schafer Cullen Capital Management Inc. increased its holdings in Silicon Motion Technology by 152.2% in the fourth quarter. Schafer Cullen Capital Management Inc. now owns 47,223 shares of the semiconductor producer’s stock valued at $2,501,000 after purchasing an additional 28,495 shares during the last quarter. Park West Asset Management LLC increased its holdings in Silicon Motion Technology by 68.4% in the fourth quarter. Park West Asset Management LLC now owns 1,145,338 shares of the semiconductor producer’s stock valued at $60,657,000 after purchasing an additional 465,338 shares during the last quarter. Castleark Management LLC bought a new stake in Silicon Motion Technology in the fourth quarter valued at about $148,000. Finally, EP Wealth Advisors LLC bought a new stake in Silicon Motion Technology in the fourth quarter valued at about $233,000. Institutional investors and hedge funds own 85.87% of the company’s stock.
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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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