Silicon Motion Technology (NASDAQ:SIMO) PT Set at $58.00 by KeyCorp

KeyCorp set a $58.00 price objective on Silicon Motion Technology (NASDAQ:SIMO) in a research note issued to investors on Tuesday morning, TipRanks reports. The firm currently has a hold rating on the semiconductor producer’s stock.

Several other research analysts have also recently commented on the stock. ValuEngine cut shares of Silicon Motion Technology from a buy rating to a hold rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut shares of Silicon Motion Technology from an overweight rating to a neutral rating and decreased their target price for the stock from $50.00 to $40.00 in a research report on Thursday, August 1st. BidaskClub cut shares of Silicon Motion Technology from a hold rating to a sell rating in a report on Tuesday, August 6th. Roth Capital decreased their price objective on shares of Silicon Motion Technology from $50.00 to $45.00 and set a buy rating for the company in a report on Thursday, August 1st. Finally, Cowen reiterated an outperform rating and issued a $42.00 price objective (down from $45.00) on shares of Silicon Motion Technology in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $47.40.

Shares of Silicon Motion Technology stock traded up $0.06 during trading on Tuesday, reaching $34.64. The company had a trading volume of 2,258 shares, compared to its average volume of 209,894. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 3.79 and a beta of 1.01. The firm’s fifty day moving average is $34.09 and its 200-day moving average is $39.11. Silicon Motion Technology has a fifty-two week low of $30.86 and a fifty-two week high of $55.64.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Tuesday, July 30th. The semiconductor producer reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $98.80 million for the quarter, compared to analyst estimates of $97.33 million. Silicon Motion Technology had a net margin of 17.84% and a return on equity of 17.76%. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. On average, equities analysts forecast that Silicon Motion Technology will post 1.79 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Northcape Capital Pty Ltd boosted its holdings in shares of Silicon Motion Technology by 18.8% in the second quarter. Northcape Capital Pty Ltd now owns 706,826 shares of the semiconductor producer’s stock valued at $31,369,000 after acquiring an additional 111,675 shares in the last quarter. Oak Associates Ltd. OH boosted its holdings in Silicon Motion Technology by 3.3% during the first quarter. Oak Associates Ltd. OH now owns 32,060 shares of the semiconductor producer’s stock worth $1,271,000 after buying an additional 1,025 shares in the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Silicon Motion Technology by 48.4% in the 1st quarter. Freestone Capital Holdings LLC now owns 152,302 shares of the semiconductor producer’s stock valued at $6,037,000 after acquiring an additional 49,660 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Silicon Motion Technology in the 1st quarter valued at approximately $516,000. Finally, Penn Capital Management Co. Inc. purchased a new stake in shares of Silicon Motion Technology in the 1st quarter valued at approximately $6,641,000. Institutional investors and hedge funds own 71.10% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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