Analysts Set Silicon Motion Technology Corporation (NASDAQ:SIMO) Price Target at $205.63

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have earned an average rating of “Buy” from the twelve analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $205.6250.

Several brokerages have weighed in on SIMO. Needham & Company LLC upped their price objective on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wedbush upped their price objective on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Roth Mkm reaffirmed a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, April 30th.

Institutional Trading of Silicon Motion Technology

Hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. bought a new stake in shares of Silicon Motion Technology during the third quarter valued at approximately $26,000. WealthCollab LLC grew its stake in shares of Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after purchasing an additional 151 shares during the last quarter. Arax Advisory Partners grew its stake in shares of Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after purchasing an additional 307 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 366 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new stake in shares of Silicon Motion Technology during the fourth quarter valued at approximately $71,000. 78.02% of the stock is owned by institutional investors.

Silicon Motion Technology Stock Performance

Shares of Silicon Motion Technology stock opened at $276.14 on Tuesday. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 0.85 and a beta of 1.67. Silicon Motion Technology has a 1-year low of $60.35 and a 1-year high of $278.50. The firm’s 50-day moving average price is $169.65 and its two-hundred day moving average price is $129.16.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.27. The firm had revenue of $342.11 million for the quarter, compared to analysts’ expectations of $299.53 million. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The company’s quarterly revenue was up 105.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. As a group, equities research analysts predict that Silicon Motion Technology will post 7.77 EPS for the current year.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.