Brokerages Set Silicon Motion Technology Co. (NASDAQ:SIMO) PT at $80.63

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $80.63.

Several equities analysts have recently weighed in on SIMO shares. StockNews.com lowered shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price target on shares of Silicon Motion Technology in a report on Friday, February 7th.

Institutional Investors Weigh In On Silicon Motion Technology

A number of institutional investors and hedge funds have recently bought and sold shares of SIMO. Advisors Asset Management Inc. grew its stake in shares of Silicon Motion Technology by 129.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock worth $27,000 after acquiring an additional 251 shares in the last quarter. GAMMA Investing LLC grew its position in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock worth $47,000 after purchasing an additional 484 shares in the last quarter. Menard Financial Group LLC purchased a new stake in Silicon Motion Technology in the 4th quarter valued at about $88,000. Blue Trust Inc. lifted its position in shares of Silicon Motion Technology by 64.7% during the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer's stock worth $122,000 after buying an additional 883 shares in the last quarter. Finally, LRI Investments LLC lifted its position in shares of Silicon Motion Technology by 519.0% during the 4th quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer's stock worth $164,000 after buying an additional 2,543 shares in the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

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Silicon Motion Technology Trading Down 0.2 %

NASDAQ SIMO traded down $0.12 during trading hours on Thursday, hitting $55.80. 435,924 shares of the company's stock were exchanged, compared to its average volume of 342,586. Silicon Motion Technology has a 1-year low of $48.81 and a 1-year high of $85.87. The stock has a 50-day simple moving average of $54.12 and a 200 day simple moving average of $55.48. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.36 and a beta of 0.71.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. On average, sell-side analysts anticipate that Silicon Motion Technology will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.58%. Silicon Motion Technology's dividend payout ratio is presently 74.35%.

Silicon Motion Technology announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor producer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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.