Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $56.30, but opened at $54.63. Silicon Motion Technology shares last traded at $55.66, with a volume of 38,675 shares changing hands.
Analyst Upgrades and Downgrades
SIMO has been the topic of a number of recent analyst reports. 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. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Morgan Stanley cut their price objective on Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Needham & Company LLC lowered their target price on Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Finally, Susquehanna cut their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.67.
Check Out Our Latest Stock Report on SIMO
Silicon Motion Technology Trading Down 0.3 %
The firm has a market cap of $1.89 billion, a P/E ratio of 21.25, a PEG ratio of 1.61 and a beta of 0.80. The company has a fifty day moving average price of $54.93 and a two-hundred day moving average price of $61.69.
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, topping analysts' consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The business had revenue of $212.40 million for the quarter, compared to analyst estimates of $209.49 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The firm's revenue for the quarter was up 23.3% on a year-over-year basis. As a group, sell-side analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current year.
Silicon Motion Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.50 dividend. The ex-dividend date was Thursday, November 14th. This represents a $2.00 annualized dividend and a yield of 3.56%. Silicon Motion Technology's dividend payout ratio (DPR) is presently 75.76%.
Institutional Trading of Silicon Motion Technology
A number of institutional investors have recently modified their holdings of SIMO. Principal Financial Group Inc. boosted its stake in shares of Silicon Motion Technology by 139.3% during the second quarter. Principal Financial Group Inc. now owns 17,020 shares of the semiconductor producer's stock valued at $1,378,000 after purchasing an additional 9,909 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Silicon Motion Technology by 29.9% in the 2nd 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. National Bank of Canada FI lifted its stake in shares of Silicon Motion Technology by 6,186.7% in the second quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer's stock valued at $3,766,000 after buying an additional 46,400 shares in the last quarter. AIGH Capital Management LLC acquired a new position in Silicon Motion Technology during the 2nd quarter valued at about $22,272,000. Finally, Headlands Technologies LLC purchased a new position in shares of Silicon Motion Technology during the second quarter valued at approximately $139,000. 78.02% of the stock is currently owned by institutional investors.
About Silicon Motion Technology
(
Get Free Report)
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.
See Also
Before you consider Silicon Motion Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silicon Motion Technology wasn't on the list.
While Silicon Motion Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
