Silicon Motion Technology Co. (NASDAQ:SIMO) Receives $80.63 Consensus Target Price from Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $80.63.

A number of equities analysts have commented on the company. Craig Hallum lowered their price objective on 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. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Susquehanna lowered their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a research note on Friday, November 1st. Needham & Company LLC restated a "buy" rating and set a $70.00 price objective on shares of Silicon Motion Technology in a research note on Friday, February 7th. Finally, StockNews.com lowered Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vident Advisory LLC raised its position in shares of Silicon Motion Technology by 90.2% in the 4th quarter. Vident Advisory LLC now owns 7,346 shares of the semiconductor producer's stock worth $397,000 after acquiring an additional 3,483 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Silicon Motion Technology in the 4th quarter worth about $256,000. Twinbeech Capital LP raised its position in shares of Silicon Motion Technology by 4.2% in the 4th quarter. Twinbeech Capital LP now owns 10,773 shares of the semiconductor producer's stock worth $582,000 after acquiring an additional 438 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Silicon Motion Technology by 19.2% in the 4th quarter. Systematic Financial Management LP now owns 589,409 shares of the semiconductor producer's stock worth $31,858,000 after acquiring an additional 95,081 shares in the last quarter. Finally, SG Capital Management LLC bought a new position in shares of Silicon Motion Technology in the 4th quarter worth about $15,006,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Down 0.8 %

SIMO opened at $55.53 on Friday. Silicon Motion Technology has a 12-month low of $48.81 and a 12-month high of $85.87. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.36 and a beta of 0.79. The business has a 50 day moving average of $54.49 and a 200-day moving average of $56.62.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. As a group, analysts expect that Silicon Motion Technology will post 3.08 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology's payout ratio is presently 74.35%.

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

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.