Q3 2018 EPS Estimates for Silicon Motion Technology Corp. (SIMO) Increased by B. Riley

Silicon Motion Technology Corp. (NASDAQ:SIMO) – Equities research analysts at B. Riley raised their Q3 2018 earnings estimates for Silicon Motion Technology in a research report issued on Wednesday. B. Riley analyst M. Crawford now forecasts that the semiconductor producer will post earnings of $0.88 per share for the quarter, up from their prior estimate of $0.86. B. Riley currently has a “Buy” rating and a $68.75 price target on the stock.

A number of other brokerages have also commented on SIMO. Zacks Investment Research raised shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. ValuEngine raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. KeyCorp reissued a “buy” rating and set a $54.00 price objective on shares of Silicon Motion Technology in a report on Wednesday. BidaskClub raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $57.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Silicon Motion Technology has an average rating of “Buy” and a consensus target price of $56.56.

Shares of Silicon Motion Technology (SIMO) traded up $0.63 during trading hours on Friday, hitting $44.04. 209,221 shares of the stock were exchanged, compared to its average volume of 761,492. The stock has a market capitalization of $1,609.90, a price-to-earnings ratio of 21.60 and a beta of 0.46. Silicon Motion Technology has a fifty-two week low of $39.91 and a fifty-two week high of $56.51.

The firm also recently disclosed a None dividend, which will be paid on Tuesday, February 27th. Investors of record on Monday, February 12th will be issued a dividend of $0.298 per share. This represents a yield of 2.12%. The ex-dividend date is Friday, February 9th. Silicon Motion Technology’s payout ratio is 42.79%.

A number of hedge funds have recently modified their holdings of SIMO. Janus Henderson Group PLC bought a new stake in Silicon Motion Technology during the second quarter worth about $20,501,000. Royce & Associates LP increased its holdings in Silicon Motion Technology by 78.0% during the 3rd quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock valued at $38,498,000 after purchasing an additional 351,140 shares during the period. Wells Fargo & Company MN grew its holdings in shares of 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 period. Yiheng Capital LLC grew its holdings in shares of Silicon Motion Technology by 43.3% during the 3rd quarter. Yiheng Capital LLC now owns 435,301 shares of the semiconductor producer’s stock worth $20,908,000 after acquiring an additional 131,515 shares during the period. Finally, ARGA Investment Management LP grew its holdings in shares of Silicon Motion Technology by 6.2% during the 3rd quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock worth $88,365,000 after acquiring an additional 106,900 shares during the period. 82.87% of the stock is currently owned by institutional investors.

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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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