Silicon Motion Technology (NASDAQ:SIMO) Downgraded by Wall Street Zen to "Hold"

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

A number of other research firms also recently issued reports on SIMO. Craig Hallum reiterated a "buy" rating and issued a $325.00 target price on shares of Silicon Motion Technology in a research report on Friday, July 31st. Needham & Company LLC increased their price objective on Silicon Motion Technology from $240.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Roth Capital reiterated a "buy" rating and set a $350.00 price objective on shares of Silicon Motion Technology in a report on Thursday, July 30th. Susquehanna lifted their price objective on Silicon Motion Technology from $275.00 to $350.00 and gave the company a "positive" rating in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded Silicon Motion Technology from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 16th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $328.75.

Silicon Motion Technology Stock Down 5.6%

Shares of SIMO traded down $10.05 during trading hours on Friday, reaching $169.45. The company's stock had a trading volume of 718,402 shares, compared to its average volume of 1,085,718. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 0.32 and a beta of 1.78. Silicon Motion Technology has a 1-year low of $79.76 and a 1-year high of $355.00. The company has a quick ratio of 3.65, a current ratio of 5.68 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $234.74 and a two-hundred day moving average of $216.66.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.30 by $1.05. Silicon Motion Technology had a net margin of 19.36% and a return on equity of 32.29%. The business had revenue of $560.22 million during the quarter, compared to analyst estimates of $529.10 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The firm's revenue was up 131.5% compared to the same quarter last year. As a group, research analysts predict that Silicon Motion Technology will post 10.20 EPS for the current fiscal year.

Institutional Trading of Silicon Motion Technology

Several large investors have recently made changes to their positions in SIMO. Bahl & Gaynor LLC raised its stake in shares of Silicon Motion Technology by 19.5% in the 3rd quarter. Bahl & Gaynor LLC now owns 541,907 shares of the semiconductor producer's stock valued at $151,734,000 after acquiring an additional 88,600 shares in the last quarter. Aberdeen Group plc lifted its holdings in Silicon Motion Technology by 34,233.7% in the 3rd quarter. Aberdeen Group plc now owns 489,599 shares of the semiconductor producer's stock worth $137,088,000 after purchasing an additional 488,173 shares during the last quarter. Hawk Ridge Capital Management LP boosted its position in Silicon Motion Technology by 48.9% during the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer's stock worth $131,752,000 after purchasing an additional 385,568 shares during the period. Schwartz Investment Counsel Inc. boosted its position in Silicon Motion Technology by 48.6% during the third quarter. Schwartz Investment Counsel Inc. now owns 401,300 shares of the semiconductor producer's stock worth $112,364,000 after purchasing an additional 131,300 shares during the period. Finally, Lazard Asset Management LLC boosted its position in Silicon Motion Technology by 3.1% during the first quarter. Lazard Asset Management LLC now owns 781,981 shares of the semiconductor producer's stock worth $87,809,000 after purchasing an additional 23,403 shares during the period. Institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and markets NAND flash controllers and related storage solutions. Its products help manage data storage and retrieval in devices that use NAND flash memory. The company's offerings include controllers for solid-state drives (SSDs), embedded storage such as eMMC and UFS, and removable storage products including memory cards and USB flash drives. Silicon Motion also develops firmware and other technologies for storage applications.

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