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

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $86.11.

Several research analysts recently commented on SIMO shares. Bank of America downgraded shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $90.00 to $60.00 in a report on Friday, August 16th. Roth Mkm cut their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Morgan Stanley decreased their target price on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Needham & Company LLC lifted their price target on Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, B. Riley reduced their price objective on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, August 5th.

Silicon Motion Technology Stock Performance

SIMO opened at $56.06 on Monday. The stock has a 50-day moving average of $59.31 and a 200-day moving average of $69.89. Silicon Motion Technology has a 52-week low of $51.85 and a 52-week high of $85.87. The company has a market cap of $1.89 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, beating 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 company had revenue of $210.67 million for the quarter, compared to the consensus estimate of $206.75 million. During the same quarter last year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, research analysts predict that Silicon Motion Technology will post 2.86 earnings per share for the current year.

Institutional Investors Weigh In On Silicon Motion Technology

Several large investors have recently modified their holdings of SIMO. Schwartz Investment Counsel Inc. grew its position in Silicon Motion Technology by 26.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 190,000 shares of the semiconductor producer’s stock valued at $11,541,000 after acquiring an additional 40,000 shares during the period. Blue Trust Inc. grew its holdings in shares of Silicon Motion Technology by 139.5% in the 3rd quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock worth $83,000 after purchasing an additional 795 shares during the last quarter. Reinhart Partners LLC. increased its position in shares of Silicon Motion Technology by 43.3% during the 3rd quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock worth $65,622,000 after purchasing an additional 326,358 shares in the last quarter. Tealwood Asset Management Inc. bought a new position in Silicon Motion Technology during the 3rd quarter valued at about $1,131,000. Finally, Handelsbanken Fonder AB boosted its position in Silicon Motion Technology by 17.0% in the third quarter. Handelsbanken Fonder AB now owns 10,300 shares of the semiconductor producer’s stock valued at $626,000 after buying an additional 1,500 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors.

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.