Shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) saw an uptick in trading volume on Monday after B. Riley raised their price target on the stock from $101.00 to $105.00. B. Riley currently has a buy rating on the stock. 432,624 shares were traded during mid-day trading, a decline of 2% from the previous session's volume of 441,961 shares.The stock last traded at $80.68 and had previously closed at $73.96.
Several other equities research analysts have also recently commented on SIMO. Craig Hallum increased their price objective on Silicon Motion Technology from $80.00 to $96.00 and gave the company a "buy" rating in a research report on Monday. Susquehanna lifted their target price on shares of Silicon Motion Technology from $100.00 to $110.00 and gave the stock a "positive" rating in a research report on Monday. Wedbush reissued an "outperform" rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research report on Friday. JPMorgan Chase & Co. upped 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. Finally, StockNews.com upgraded shares of Silicon Motion Technology from a "hold" rating to a "buy" rating in a research report on Friday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $91.13.
Read Our Latest Stock Analysis on SIMO
Hedge Funds Weigh In On Silicon Motion Technology
Several institutional investors have recently bought and sold shares of SIMO. Lester Murray Antman dba SimplyRich purchased a new position in shares of Silicon Motion Technology in the 1st quarter worth approximately $220,000. Easterly Investment Partners LLC raised its stake in shares of Silicon Motion Technology by 0.9% in the first quarter. Easterly Investment Partners LLC now owns 246,397 shares of the semiconductor producer's stock valued at $18,958,000 after acquiring an additional 2,128 shares during the period. Chase Investment Counsel Corp bought a new stake in shares of Silicon Motion Technology in the 1st quarter worth about $2,303,000. Janney Montgomery Scott LLC boosted its stake in shares of Silicon Motion Technology by 14.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 83,663 shares of the semiconductor producer's stock worth $6,437,000 after purchasing an additional 10,513 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Silicon Motion Technology by 69.7% during the 1st quarter. BNP Paribas Financial Markets now owns 8,400 shares of the semiconductor producer's stock valued at $646,000 after purchasing an additional 3,449 shares during the last quarter. Institutional investors own 78.02% of the company's stock.
Silicon Motion Technology Trading Up 6.3 %
The stock's 50-day moving average is $74.63 and its two-hundred day moving average is $65.79. The company has a market capitalization of $2.65 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 3.98 and a beta of 0.87.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.12. The company had revenue of $202.38 million during the quarter, compared to analysts' expectations of $197.60 million. Silicon Motion Technology had a return on equity of 7.77% and a net margin of 8.34%. On average, equities research analysts forecast that Silicon Motion Technology Co. will post 2.65 EPS for the current fiscal year.
Silicon Motion Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $2.00 annualized dividend and a yield of 2.55%. Silicon Motion Technology's dividend payout ratio (DPR) is presently 113.07%.
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.
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