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.
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.
ILLEGAL ACTIVITY WARNING: “UBS Group Downgrades Silicon Motion Technology (SIMO) to Neutral” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.com-unik.info/2018/01/20/ubs-group-downgrades-silicon-motion-technology-simo-to-neutral.html.
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.
Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.