Analysts Set Silicon Motion Technology Co. (NASDAQ:SIMO) PT at $87.57

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six analysts that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $87.57.

A number of equities research analysts recently weighed in on the company. Craig Hallum boosted their price objective on Silicon Motion Technology from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, February 7th. B. Riley boosted their price objective on Silicon Motion Technology from $93.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, February 8th. Wedbush reaffirmed an "outperform" rating and set a $85.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 10th. Finally, Needham & Company LLC lifted their target price on Silicon Motion Technology from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th.

Silicon Motion Technology Stock Up 2.4 %

Shares of SIMO traded up $1.76 during midday trading on Monday, hitting $75.11. The company's stock had a trading volume of 326,008 shares, compared to its average volume of 438,990. Silicon Motion Technology has a one year low of $49.50 and a one year high of $95.33. The company's fifty day simple moving average is $74.10 and its two-hundred day simple moving average is $65.16. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 47.04, a price-to-earnings-growth ratio of 3.95 and a beta of 0.85.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.12. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. The company had revenue of $202.38 million for the quarter, compared to analyst estimates of $197.60 million. On average, research analysts predict that Silicon Motion Technology will post 2.65 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology's dividend payout ratio (DPR) is currently 125.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in Silicon Motion Technology during the 1st quarter worth approximately $547,000. Allspring Global Investments Holdings LLC increased its holdings in Silicon Motion Technology by 34.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,700 shares of the semiconductor producer's stock worth $362,000 after purchasing an additional 1,200 shares in the last quarter. Oliver Luxxe Assets LLC bought a new stake in Silicon Motion Technology during the 1st quarter worth approximately $875,000. Diversified Trust Co bought a new stake in Silicon Motion Technology during the 1st quarter worth approximately $277,000. Finally, Reinhart Partners LLC. increased its holdings in Silicon Motion Technology by 5.1% during the 1st quarter. Reinhart Partners LLC. now owns 736,371 shares of the semiconductor producer's stock worth $56,656,000 after purchasing an additional 35,623 shares in the last quarter. 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.