Silicon Motion Technology (NASDAQ:SIMO) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Silicon Motion Technology (NASDAQ:SIMO) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Wall Street Zen lowered Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Silicon Motion Technology in a research report on Friday, March 27th. William Blair assumed coverage on Silicon Motion Technology in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Wedbush lifted their price objective on Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Needham & Company LLC lifted their price objective on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Silicon Motion Technology Price Performance

Shares of NASDAQ:SIMO opened at $117.01 on Monday. The business has a fifty day moving average price of $124.51 and a 200-day moving average price of $105.79. The company has a market capitalization of $3.98 billion, a PE ratio of 32.15, a PEG ratio of 0.77 and a beta of 1.09. Silicon Motion Technology has a 1-year low of $37.21 and a 1-year high of $146.85.

Institutional Investors Weigh In On Silicon Motion Technology

A number of large investors have recently made changes to their positions in the company. Reinhart Partners LLC. grew its stake in shares of Silicon Motion Technology by 4.8% during the 4th quarter. Reinhart Partners LLC. now owns 1,573,355 shares of the semiconductor producer’s stock valued at $145,851,000 after purchasing an additional 72,421 shares during the period. Pertento Partners LLP grew its stake in shares of Silicon Motion Technology by 2.5% during the 3rd quarter. Pertento Partners LLP now owns 1,290,409 shares of the semiconductor producer’s stock valued at $122,344,000 after acquiring an additional 31,405 shares during the period. Frontier Capital Management Co. LLC grew its stake in shares of Silicon Motion Technology by 115.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after acquiring an additional 686,261 shares during the period. Hawk Ridge Capital Management LP grew its stake in shares of Silicon Motion Technology by 111.3% during the 4th quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer’s stock valued at $73,024,000 after acquiring an additional 415,000 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Silicon Motion Technology by 2.3% during the 3rd quarter. Lazard Asset Management LLC now owns 783,663 shares of the semiconductor producer’s stock valued at $74,299,000 after acquiring an additional 17,741 shares during the period. 78.02% of the stock is currently owned by institutional investors.

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.