Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have been assigned an average rating of “Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $52.00.

SIMO has been the subject of a number of research analyst reports. Cowen reiterated an “outperform” rating and issued a $45.00 target price (up from $43.00) on shares of Silicon Motion Technology in a report on Monday, May 6th. BidaskClub upgraded Silicon Motion Technology from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Morgan Stanley downgraded Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. B. Riley lowered their target price on Silicon Motion Technology from $53.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, Zacks Investment Research upgraded Silicon Motion Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 2nd.

A number of hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. bought a new position in Silicon Motion Technology during the 1st quarter valued at approximately $516,000. Macquarie Group Ltd. increased its position in Silicon Motion Technology by 1.3% during the 1st quarter. Macquarie Group Ltd. now owns 33,169 shares of the semiconductor producer’s stock valued at $1,315,000 after buying an additional 428 shares in the last quarter. Cloverdale Capital Management LLC increased its position in Silicon Motion Technology by 72.1% during the 1st quarter. Cloverdale Capital Management LLC now owns 371,174 shares of the semiconductor producer’s stock valued at $14,713,000 after buying an additional 155,479 shares in the last quarter. Advisors Asset Management Inc. increased its position in Silicon Motion Technology by 23.6% during the 1st quarter. Advisors Asset Management Inc. now owns 33,866 shares of the semiconductor producer’s stock valued at $1,342,000 after buying an additional 6,466 shares in the last quarter. Finally, Jefferies Group LLC bought a new position in Silicon Motion Technology during the 1st quarter valued at approximately $611,000. 69.93% of the stock is owned by institutional investors.

SIMO stock traded down $0.33 during mid-day trading on Friday, reaching $39.59. The company’s stock had a trading volume of 14,726 shares, compared to its average volume of 345,633. The company has a market cap of $1.46 billion, a P/E ratio of 11.59, a PEG ratio of 3.73 and a beta of 0.97. Silicon Motion Technology has a 12 month low of $31.73 and a 12 month high of $61.85.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Thursday, May 2nd. The semiconductor producer reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.07. The business had revenue of $94.69 million during the quarter, compared to the consensus estimate of $93.23 million. Silicon Motion Technology had a return on equity of 19.04% and a net margin of 17.28%. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. On average, research analysts predict that Silicon Motion Technology will post 2.12 EPS for the current year.

The company also recently announced a dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 9th were paid a $0.298 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This is a boost from Silicon Motion Technology’s previous dividend of $0.20. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 34.90%.

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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