UBS Group Downgrades Silicon Motion Technology (SIMO) to Neutral

UBS Group lowered shares of Silicon Motion Technology (NASDAQ:SIMO) from a positive rating to a neutral rating in a research note released on Tuesday, The Fly reports.

Several other research analysts also recently commented on SIMO. Needham & Company LLC restated a buy rating and set a $54.00 price objective on shares of Silicon Motion Technology in a research report on Friday, September 22nd. Zacks Investment Research upgraded shares of Silicon Motion Technology from a strong sell rating to a hold rating in a research report on Tuesday, October 3rd. Loop Capital boosted their price objective on shares of Silicon Motion Technology from $51.00 to $59.00 and gave the company a buy rating in a research report on Monday, October 9th. Roth Capital boosted their price objective on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the company a buy rating in a research report on Tuesday, October 24th. Finally, B. Riley set a $69.00 price objective on shares of Silicon Motion Technology and gave the company a buy rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $56.52.

Shares of Silicon Motion Technology (NASDAQ:SIMO) traded up $1.29 during mid-day trading on Tuesday, hitting $48.15. The company had a trading volume of 425,956 shares, compared to its average volume of 579,854. The company has a market capitalization of $1,750.00, a PE ratio of 18.81 and a beta of 0.66. Silicon Motion Technology has a fifty-two week low of $37.37 and a fifty-two week high of $56.51.

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

The business also recently declared a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.298 per share. The ex-dividend date is Friday, February 9th. This represents a dividend yield of 2.12%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 34.77%.

Large investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new position in shares of Silicon Motion Technology during the third quarter worth $101,000. Advisors Preferred LLC increased its holdings in shares of Silicon Motion Technology by 451.0% during the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock worth $128,000 after buying an additional 2,183 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Silicon Motion Technology during the second quarter worth $135,000. Boothbay Fund Management LLC acquired a new position in shares of Silicon Motion Technology during the third quarter worth $251,000. Finally, Virtu KCG Holdings LLC increased its holdings in shares of Silicon Motion Technology by 25.3% during the second quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock worth $278,000 after buying an additional 1,164 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

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Silicon Motion Technology Company Profile

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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