Silicon Motion Technology (NASDAQ:SIMO) Hits New 12-Month Low - Should You Sell?

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $48.81 and last traded at $49.98, with a volume of 352481 shares. The stock had previously closed at $51.90.

Wall Street Analyst Weigh In

SIMO has been the topic of a number of research analyst reports. Craig Hallum reduced 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. StockNews.com upgraded shares of Silicon Motion Technology from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Morgan Stanley lowered their price target on shares of Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Susquehanna cut their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a report on Friday, November 1st. Finally, Roth Mkm reduced their price objective 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. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.67.

Silicon Motion Technology Stock Performance

The company has a fifty day simple moving average of $54.83 and a 200 day simple moving average of $60.55. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.61 and a beta of 0.80.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping 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 company had revenue of $212.40 million for the quarter, compared to analyst estimates of $209.49 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 23.3% on a year-over-year basis. As a group, equities analysts predict that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology's dividend payout ratio is presently 75.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its holdings in Silicon Motion Technology by 29.9% in the second quarter. Commonwealth Equity Services LLC now owns 11,788 shares of the semiconductor producer's stock worth $955,000 after purchasing an additional 2,714 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Silicon Motion Technology during the 2nd quarter worth approximately $365,000. Envestnet Asset Management Inc. increased its stake in shares of Silicon Motion Technology by 9.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 55,312 shares of the semiconductor producer's stock valued at $4,480,000 after acquiring an additional 4,963 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Silicon Motion Technology by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 113,879 shares of the semiconductor producer's stock valued at $9,223,000 after acquiring an additional 33,600 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Silicon Motion Technology during the second quarter worth $265,000. 78.02% of the stock is owned by institutional investors and hedge funds.

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.