Silicon Motion Technology (NASDAQ:SIMO) Stock Price Passes Above 200 Day Moving Average - What's Next?

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $55.56 and traded as high as $57.25. Silicon Motion Technology shares last traded at $56.58, with a volume of 1,108,580 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC reissued a "buy" rating and set a $70.00 price target on shares of Silicon Motion Technology in a research note on Friday, February 7th. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Finally, StockNews.com downgraded Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $80.63.

Silicon Motion Technology Price Performance

The firm has a fifty day moving average price of $54.12 and a two-hundred day moving average price of $55.48. The stock has a market capitalization of $1.88 billion, a PE ratio of 20.74, a P/E/G ratio of 1.36 and a beta of 0.71.

Remove Ads

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings results 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 return on equity of 11.63% and a net margin of 11.29%. On average, research analysts expect that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.58%. Silicon Motion Technology's payout ratio is 74.35%.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock worth $27,000 after purchasing an additional 251 shares during the period. Geode Capital Management LLC increased its holdings in Silicon Motion Technology by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer's stock worth $2,183,000 after purchasing an additional 253 shares during the period. Quadrant Capital Group LLC increased its holdings in Silicon Motion Technology by 7.2% during the 4th quarter. Quadrant Capital Group LLC now owns 3,959 shares of the semiconductor producer's stock worth $214,000 after purchasing an additional 267 shares during the period. Twinbeech Capital LP increased its holdings in Silicon Motion Technology by 4.2% during the 4th quarter. Twinbeech Capital LP now owns 10,773 shares of the semiconductor producer's stock worth $582,000 after purchasing an additional 438 shares during the period. Finally, Rhumbline Advisers increased its holdings in Silicon Motion Technology by 8.7% during the 4th quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer's stock worth $306,000 after purchasing an additional 453 shares during the period. 78.02% of the stock is currently 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.