Silicon Motion Technology Co. (NASDAQ:SIMO) Given Consensus Rating of “Moderate Buy” by Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO) has been assigned a consensus recommendation of “Moderate Buy” from 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 issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $87.56.

Several brokerages have recently issued reports on SIMO. Needham & Company LLC upped their target price on shares of Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Bank of America downgraded Silicon Motion Technology from a “buy” rating to an “underperform” rating and cut their target price for the company from $90.00 to $60.00 in a research note on Friday, August 16th. Finally, B. Riley reduced their target price on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a report on Monday, August 5th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of Silicon Motion Technology by 154.9% during the 4th quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after acquiring an additional 333 shares during the last quarter. Blue Trust Inc. raised its holdings in Silicon Motion Technology by 3,971.4% in the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 556 shares during the period. Assetmark Inc. raised its holdings in Silicon Motion Technology by 34.5% in the 4th quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock worth $82,000 after purchasing an additional 342 shares during the period. Barometer Capital Management Inc. purchased a new position in Silicon Motion Technology during the fourth quarter valued at $123,000. Finally, Headlands Technologies LLC purchased a new stake in Silicon Motion Technology in the second quarter worth about $139,000. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Down 0.7 %

Shares of NASDAQ:SIMO opened at $58.50 on Friday. The stock has a fifty day simple moving average of $69.77 and a two-hundred day simple moving average of $74.05. Silicon Motion Technology has a 12-month low of $49.50 and a 12-month high of $85.87. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 1.00 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. The firm had revenue of $210.67 million during the quarter, compared to analyst estimates of $206.75 million. During the same quarter in the previous year, the firm earned $0.33 EPS. Silicon Motion Technology’s quarterly revenue was up 50.1% compared to the same quarter last year. As a group, equities research analysts predict that Silicon Motion Technology will post 2.86 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Thursday, August 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 113.07%.

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.