Silicon Motion Technology Corp. (NASDAQ:SIMO) Receives $50.89 Average Price Target from Analysts

Silicon Motion Technology Corp. (NASDAQ:SIMO) has earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $48.00.

A number of equities research analysts have recently weighed in on the company. Cowen reaffirmed an “outperform” rating and issued a $42.00 price objective (down from $45.00) on shares of Silicon Motion Technology in a research note on Thursday. Morgan Stanley cut Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 22nd. ValuEngine cut Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Thursday. B. Riley lifted their price objective on Silicon Motion Technology from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Roth Capital dropped their price objective on Silicon Motion Technology from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday.

SIMO stock traded down $1.11 during midday trading on Friday, hitting $34.01. 448,130 shares of the company’s stock were exchanged, compared to its average volume of 340,653. Silicon Motion Technology has a 1-year low of $31.73 and a 1-year high of $61.85. The company’s 50-day simple moving average is $41.78. The stock has a market capitalization of $1.31 billion, a PE ratio of 9.97, a PEG ratio of 3.80 and a beta of 1.04.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor producer reported $0.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.52. Silicon Motion Technology had a return on equity of 17.90% and a net margin of 17.84%. The business had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $97.33 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was down 28.5% on a year-over-year basis. Analysts expect that Silicon Motion Technology will post 1.9 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. BancorpSouth Bank boosted its holdings in Silicon Motion Technology by 2.3% in the first quarter. BancorpSouth Bank now owns 14,683 shares of the semiconductor producer’s stock valued at $582,000 after purchasing an additional 326 shares during the period. Penserra Capital Management LLC boosted its holdings in Silicon Motion Technology by 50.0% in the first quarter. Penserra Capital Management LLC now owns 1,320 shares of the semiconductor producer’s stock valued at $52,000 after purchasing an additional 440 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings 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 purchasing an additional 617 shares during the period. Private Capital Group LLC boosted its holdings in Silicon Motion Technology by 63.5% in the first quarter. Private Capital Group LLC now owns 1,630 shares of the semiconductor producer’s stock valued at $65,000 after purchasing an additional 633 shares during the period. Finally, Quantamental Technologies LLC purchased a new position in Silicon Motion Technology in the first quarter valued at $28,000. Hedge funds and other institutional investors own 69.98% 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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