Silicon Motion Technology (NASDAQ:SIMO) Price Target Lowered to $95.00 at Susquehanna

Silicon Motion Technology (NASDAQ:SIMO - Free Report) had its price target trimmed by Susquehanna from $110.00 to $95.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a positive rating on the semiconductor producer's stock.

SIMO has been the subject of a number of other research reports. Craig Hallum dropped their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday. Roth Mkm dropped their target price on shares of Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday, October 8th. StockNews.com raised shares of Silicon Motion Technology from a "hold" rating to a "buy" rating in a research report on Saturday, September 14th. B. Riley dropped their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, August 5th. Finally, Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $81.67.

Silicon Motion Technology Price Performance

NASDAQ:SIMO traded down $1.03 on Friday, reaching $52.78. The stock had a trading volume of 242,587 shares, compared to its average volume of 378,385. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 0.88 and a beta of 0.83. The firm's fifty day moving average is $58.59 and its two-hundred day moving average is $69.35. Silicon Motion Technology has a 12-month low of $52.15 and a 12-month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.72%. The company had revenue of $210.67 million during the quarter, compared to the consensus estimate of $206.75 million. During the same quarter in the prior year, the company posted $0.33 EPS. The company's quarterly revenue was up 50.1% compared to the same quarter last year. As a group, research analysts forecast that Silicon Motion Technology will post 2.86 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, November 14th. Silicon Motion Technology's dividend payout ratio (DPR) is presently 75.38%.

Hedge Funds Weigh In On Silicon Motion Technology

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Silicon Motion Technology by 3,971.4% in the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock worth $44,000 after buying an additional 556 shares during the period. Headlands Technologies LLC acquired a new position in shares of Silicon Motion Technology during the second quarter valued at $139,000. LRI Investments LLC acquired a new position in shares of Silicon Motion Technology during the first quarter valued at $150,000. Van ECK Associates Corp acquired a new position in shares of Silicon Motion Technology during the third quarter valued at $151,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Silicon Motion Technology by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the semiconductor producer's stock valued at $155,000 after purchasing an additional 821 shares during the period. 78.02% of the stock is currently owned by institutional investors.

About Silicon Motion Technology

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.