Silicon Motion Technology (SIMO) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Silicon Motion Technology (NASDAQ:SIMO) from a hold rating to a sell rating in a research report released on Thursday, April 11th, BidAskClub reports.

SIMO has been the subject of several other research reports. Roth Capital decreased their price target on shares of Silicon Motion Technology from $50.00 to $45.00 and set a buy rating for the company in a report on Wednesday, January 9th. Zacks Investment Research lowered shares of Silicon Motion Technology from a buy rating to a hold rating in a research note on Monday, February 4th. Craig Hallum reaffirmed a buy rating and issued a $52.00 target price (down from $55.00) on shares of Silicon Motion Technology in a research note on Monday, January 28th. ValuEngine upgraded shares of Silicon Motion Technology from a sell rating to a hold rating in a research note on Tuesday, January 29th. Finally, Morgan Stanley downgraded shares of Silicon Motion Technology from an overweight rating to an equal weight rating and set a $34.43 price objective for the company. in a research note on Friday, December 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. Silicon Motion Technology currently has a consensus rating of Buy and an average price target of $51.54.

Shares of SIMO traded up $2.00 on Thursday, hitting $39.82. The company’s stock had a trading volume of 572,005 shares, compared to its average volume of 372,859. Silicon Motion Technology has a fifty-two week low of $31.73 and a fifty-two week high of $61.85. The company has a market capitalization of $1.44 billion, a P/E ratio of 11.68 and a beta of 1.03.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor producer reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The firm had revenue of $94.69 million during the quarter, compared to analysts’ expectations of $93.23 million. Silicon Motion Technology had a net margin of 18.91% and a return on equity of 21.30%. Silicon Motion Technology’s revenue was down 27.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 EPS. Sell-side analysts anticipate that Silicon Motion Technology will post 2.19 EPS for the current fiscal year.

The company also recently declared a dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, May 9th will be given a dividend of $0.298 per share. This is a positive change from Silicon Motion Technology’s previous dividend of $0.20. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 34.90%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC acquired a new stake in shares of Silicon Motion Technology during the 1st quarter worth approximately $28,000. Private Capital Group LLC boosted its position in Silicon Motion Technology by 493.5% in the fourth quarter. Private Capital Group LLC now owns 997 shares of the semiconductor producer’s stock valued at $34,000 after buying an additional 829 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Silicon Motion Technology by 201.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 923 shares of the semiconductor producer’s stock valued at $37,000 after buying an additional 617 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Silicon Motion Technology by 1,460.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,919 shares of the semiconductor producer’s stock valued at $76,000 after buying an additional 1,796 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Silicon Motion Technology by 389.7% in the fourth quarter. Citigroup Inc. now owns 2,615 shares of the semiconductor producer’s stock valued at $90,000 after buying an additional 2,081 shares in the last quarter. Institutional investors and hedge funds own 70.97% 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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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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