Silicon Motion Technology Co. (NASDAQ:SIMO) Given Consensus Recommendation of "Moderate Buy" by Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) has received an average rating of "Moderate Buy" from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $81.67.

Several analysts have commented on SIMO shares. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd. Susquehanna dropped their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating for the company in a research report on Friday, November 1st. Craig Hallum cut their price target on shares of Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC lowered their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Roth Mkm cut their target price on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, October 8th.

Silicon Motion Technology Price Performance

SIMO stock traded up $0.20 during midday trading on Wednesday, hitting $51.26. The stock had a trading volume of 322,711 shares, compared to its average volume of 305,973. The company's 50-day moving average price is $54.60 and its 200 day moving average price is $58.51. The firm has a market cap of $1.73 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.29 and a beta of 0.80. Silicon Motion Technology has a 12-month low of $48.81 and a 12-month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The business had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The business's revenue for the quarter was up 23.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Silicon Motion Technology will post 2.58 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.90%. Silicon Motion Technology's dividend payout ratio (DPR) is 75.38%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in shares of Silicon Motion Technology by 204.6% in the fourth quarter. Van ECK Associates Corp now owns 8,271 shares of the semiconductor producer's stock worth $447,000 after buying an additional 5,556 shares during the period. Choreo LLC acquired a new position in Silicon Motion Technology during the 4th quarter worth approximately $209,000. Deltec Asset Management LLC purchased a new position in Silicon Motion Technology in the 4th quarter worth approximately $408,000. Calamos Advisors LLC acquired a new stake in Silicon Motion Technology in the fourth quarter valued at approximately $3,707,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Silicon Motion Technology during the fourth quarter valued at approximately $431,000. 78.02% of the stock is owned by hedge funds and other 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.