Silicon Motion Technology Co. (NASDAQ:SIMO) Receives Consensus Rating of "Buy" from Brokerages

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) has been assigned an average recommendation of "Buy" from the seven analysts that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $85.00.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. B. Riley reissued a "buy" rating and issued a $93.00 price target (up from $90.00) on shares of Silicon Motion Technology in a research report on Friday, March 15th. Craig Hallum boosted their price target on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 target price on shares of Silicon Motion Technology in a report on Monday, January 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $85.00 target price on shares of Silicon Motion Technology in a report on Thursday, February 8th.

Silicon Motion Technology Price Performance

Shares of Silicon Motion Technology stock traded down $1.09 during trading on Thursday, hitting $79.84. 276,688 shares of the stock were exchanged, compared to its average volume of 467,621. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 51.23, a price-to-earnings-growth ratio of 4.35 and a beta of 0.85. The firm's 50-day moving average price is $70.65 and its 200 day moving average price is $62.33. Silicon Motion Technology has a 12-month low of $49.50 and a 12-month high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.12. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. The firm had revenue of $202.38 million during the quarter, compared to analysts' expectations of $197.60 million. As a group, research analysts forecast that Silicon Motion Technology will post 2.62 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Friday, February 16th. Silicon Motion Technology's dividend payout ratio is currently 125.95%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. 1832 Asset Management L.P. acquired a new position in Silicon Motion Technology during the 4th quarter valued at about $26,000. Parallel Advisors LLC increased its position in shares of Silicon Motion Technology by 154.9% in the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer's stock worth $34,000 after acquiring an additional 333 shares in the last quarter. Signaturefd LLC increased its position in shares of Silicon Motion Technology by 183.5% in the third quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer's stock worth $35,000 after acquiring an additional 444 shares in the last quarter. Quarry LP purchased a new position in shares of Silicon Motion Technology in the second quarter worth approximately $36,000. Finally, Barclays PLC purchased a new position in shares of Silicon Motion Technology in the fourth quarter worth approximately $39,000. 78.02% of the stock is currently owned by institutional investors.

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.