Silicon Motion Technology Corp. (SIMO) Given Consensus Rating of “Buy” by Brokerages
Silicon Motion Technology Corp. (NASDAQ:SIMO) has been given a consensus recommendation of “Buy” by the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $58.25.
A number of research firms have recently commented on SIMO. Benchmark began coverage on shares of Silicon Motion Technology in a research report on Friday, June 22nd. They issued a “buy” rating and a $62.00 price target on the stock. BidaskClub raised shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. Needham & Company LLC lifted their price target on shares of Silicon Motion Technology from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, June 19th. Finally, ValuEngine raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd.
Large investors have recently added to or reduced their stakes in the company. Pitcairn Co. bought a new position in Silicon Motion Technology during the second quarter worth $201,000. A.R.T. Advisors LLC bought a new position in Silicon Motion Technology during the first quarter worth $213,000. FNY Investment Advisers LLC bought a new position in Silicon Motion Technology during the second quarter worth $285,000. Comerica Securities Inc. bought a new position in Silicon Motion Technology during the first quarter worth $265,000. Finally, Weil Company Inc. bought a new position in Silicon Motion Technology during the second quarter worth $311,000. 75.80% of the stock is currently owned by institutional investors.
Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Tuesday, July 31st. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.24. The firm had revenue of $138.10 million during the quarter, compared to analysts’ expectations of $137.80 million. Silicon Motion Technology had a net margin of 15.28% and a return on equity of 15.97%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. equities research analysts predict that Silicon Motion Technology will post 3.05 EPS for the current fiscal year.
About Silicon Motion Technology
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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