Silicon Motion Technology Co. (NASDAQ: SIMO) Receives Average Rating of “Hold” from Analysts

Silicon Motion Technology Co. (NASDAQ: SIMO – Get Rating) has been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $ 102.67.

A number of analysts have recently weighed in on the stock. Roth Capital lowered shares of Silicon Motion Technology from a “buy” rating to a “neutral” rating in a research note on Thursday, May 5th. Susquehanna Bancshares lowered shares of Silicon Motion Technology from a “positive” rating to a “neutral” rating in a research note on Thursday, May 5th. B. Riley lowered shares of Silicon Motion Technology from a “buy” rating to a “neutral” rating in a research note on Friday, May 6th. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Wednesday, May 25th. Finally, Susquehanna downgraded shares of Silicon Motion Technology from a “positive” rating to a “neutral” rating in a report on Thursday, May 5th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its stake in shares of Silicon Motion Technology by 4.8% in the first quarter. Acadian Asset Management LLC now owns 1,496,316 shares of the semiconductor producer’s stock worth $ 99,946,000 after buying an additional 67,956 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Silicon Motion Technology by 8.1% in the first quarter. Baillie Gifford & Co. now owns 788,897 shares of the semiconductor producer’s stock worth $ 52,713,000 after buying an additional 58,907 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Silicon Motion Technology by 2.3% in the fourth quarter. Bank of America Corp DE now owns 740,077 shares of the semiconductor producer’s stock worth $ 70,329,000 after buying an additional 16,375 shares in the last quarter. State Street Corp lifted its stake in shares of Silicon Motion Technology by 2.0% in the first quarter. State Street Corp now owns 643,896 shares of the semiconductor producer’s stock worth $ 42,957,000 after buying an additional 12,508 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Silicon Motion Technology by 16.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 608,035 shares of the semiconductor producer’s stock worth $ 40,629,000 after purchasing an additional 86,241 shares during the last quarter. 76.60% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Silicon Motion Technology stock opened at $ 91.04 on Friday. Silicon Motion Technology has a 12-month low of $ 58.86 and a 12-month high of $ 98.65. The firm has a market capitalization of $ 3.14 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.38 and a beta of 1.00. The firm’s 50 day simple moving average is $ 84.54 and its two-hundred day simple moving average is $ 81.37.

Silicon Motion Technology (NASDAQ: SIMO – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The semiconductor producer reported $ 1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.41 by $ 0.19. The business had revenue of $ 242.00 million for the quarter, compared to analyst estimates of $ 239.46 million. Silicon Motion Technology had a net margin of 22.42% and a return on equity of 33.47%. Silicon Motion Technology’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $ 0.98 EPS. Equities research analysts anticipate that Silicon Motion Technology will post 7.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 26th. Record shareholders on Thursday, May 12th were issued a dividend of $ 0.50 per share. This represents a $ 2.00 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, May 11th. Silicon Motion Technology’s payout ratio is 31.44%.

Silicon Motion Technology Company Profile (Get Rating)

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It 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.

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Analyst Recommendations for Silicon Motion Technology (NASDAQ: SIMO)

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