BidaskClub downgraded shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday morning.

A number of other equities analysts also recently issued reports on SIMO. Needham & Company LLC restated a buy rating and issued a $56.00 price target (down from $60.00) on shares of Silicon Motion Technology Corporation in a research note on Tuesday, April 11th. B. Riley restated a buy rating and issued a $68.75 price target on shares of Silicon Motion Technology Corporation in a research note on Wednesday, April 26th. Pacific Crest raised their price target on Silicon Motion Technology Corporation from $51.00 to $53.00 and gave the stock an overweight rating in a research note on Monday, May 1st. Zacks Investment Research upgraded Silicon Motion Technology Corporation from a hold rating to a buy rating and set a $57.00 price target on the stock in a research note on Friday, May 5th. Finally, Standpoint Research downgraded Silicon Motion Technology Corporation from a buy rating to a reduce rating in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $57.56.

Shares of Silicon Motion Technology Corporation (NASDAQ SIMO) traded down 0.12% during mid-day trading on Tuesday, hitting $41.55. The company’s stock had a trading volume of 909,553 shares. The stock’s 50 day moving average price is $47.26 and its 200 day moving average price is $45.81. Silicon Motion Technology Corporation has a 52-week low of $37.37 and a 52-week high of $56.25. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 13.33 and a beta of 0.72.

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A number of large investors have recently bought and sold shares of the stock. US Bancorp DE boosted its stake in Silicon Motion Technology Corporation by 71.5% in the first quarter. US Bancorp DE now owns 2,194 shares of the semiconductor producer’s stock worth $102,000 after buying an additional 915 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Silicon Motion Technology Corporation by 5.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,417 shares of the semiconductor producer’s stock worth $103,000 after buying an additional 119 shares in the last quarter. Dubuque Bank & Trust Co. boosted its stake in Silicon Motion Technology Corporation by 253.4% in the first quarter. Dubuque Bank & Trust Co. now owns 4,531 shares of the semiconductor producer’s stock worth $212,000 after buying an additional 3,249 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Silicon Motion Technology Corporation by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,940 shares of the semiconductor producer’s stock worth $251,000 after buying an additional 292 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in Silicon Motion Technology Corporation during the second quarter worth approximately $270,000. 79.80% of the stock is currently owned by institutional investors and hedge funds.

About Silicon Motion Technology Corporation

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Analyst Recommendations for Silicon Motion Technology Corporation (NASDAQ:SIMO)

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