Silicon Motion Technology (SIMO) Given Buy Rating at B. Riley

B. Riley reaffirmed their buy rating on shares of Silicon Motion Technology (NASDAQ:SIMO) in a report published on Monday. They currently have a $68.75 price target on the semiconductor producer’s stock.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reissued a buy rating and set a $54.00 price target on shares of Silicon Motion Technology in a report on Friday, September 22nd. ValuEngine raised Silicon Motion Technology from a hold rating to a buy rating in a report on Sunday, December 31st. Northland Securities reissued a buy rating and set a $60.00 price target on shares of Silicon Motion Technology in a report on Sunday, October 29th. Roth Capital boosted their price target on Silicon Motion Technology from $55.00 to $60.00 and gave the stock a buy rating in a report on Tuesday, October 24th. Finally, Loop Capital boosted their price target on Silicon Motion Technology from $51.00 to $59.00 and gave the stock a buy rating in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Silicon Motion Technology presently has a consensus rating of Buy and a consensus target price of $57.23.

Silicon Motion Technology (NASDAQ SIMO) opened at $51.25 on Monday. Silicon Motion Technology has a fifty-two week low of $37.37 and a fifty-two week high of $56.51. The company has a market capitalization of $1,810.00, a price-to-earnings ratio of 20.02 and a beta of 0.66.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The company had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $127.24 million. During the same quarter in the previous year, the firm earned $1.07 EPS. Silicon Motion Technology’s revenue was down 19.8% on a year-over-year basis. equities research analysts anticipate that Silicon Motion Technology will post 2.31 earnings per share for the current year.

The company also recently disclosed a None dividend, which will be paid on Tuesday, February 27th. Investors of record on Monday, February 12th will be given a dividend of $0.298 per share. The ex-dividend date is Friday, February 9th. This represents a yield of 2.12%. Silicon Motion Technology’s dividend payout ratio is currently 34.77%.

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its position in Silicon Motion Technology by 12.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 26,799 shares of the semiconductor producer’s stock worth $1,287,000 after acquiring an additional 3,060 shares during the last quarter. Ameriprise Financial Inc. grew its position in Silicon Motion Technology by 69.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 144,631 shares of the semiconductor producer’s stock worth $6,947,000 after acquiring an additional 59,175 shares during the last quarter. Wells Fargo & Company MN grew its position in Silicon Motion Technology by 236.2% during the 3rd quarter. Wells Fargo & Company MN now owns 197,230 shares of the semiconductor producer’s stock worth $9,473,000 after acquiring an additional 138,571 shares during the last quarter. AXA bought a new stake in Silicon Motion Technology during the 2nd quarter worth $8,066,000. Finally, Northcape Capital Pty Ltd grew its position in Silicon Motion Technology by 8.0% during the 3rd quarter. Northcape Capital Pty Ltd now owns 664,963 shares of the semiconductor producer’s stock worth $31,938,000 after acquiring an additional 49,310 shares during the last quarter. Institutional investors and hedge funds own 82.79% 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.

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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