Silicon Motion Technology Co. (NASDAQ:SIMO) Receives $75.88 Consensus PT from Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $75.88.

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. B. Riley lifted their price target on Silicon Motion Technology from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wedbush reissued an "outperform" rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, April 30th. Bank of America raised shares of Silicon Motion Technology from an "underperform" rating to a "neutral" rating and set a $47.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC lowered their price objective on shares of Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th.

Institutional Investors Weigh In On Silicon Motion Technology

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Silicon Motion Technology by 123.2% in the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock worth $47,000 after buying an additional 484 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Silicon Motion Technology by 61.8% during the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock worth $58,000 after purchasing an additional 440 shares during the last quarter. Signaturefd LLC increased its position in Silicon Motion Technology by 79.3% in the 1st quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock worth $84,000 after buying an additional 736 shares during the period. Menard Financial Group LLC acquired a new position in shares of Silicon Motion Technology during the fourth quarter worth approximately $88,000. Finally, Blue Trust Inc. grew its stake in shares of Silicon Motion Technology by 64.7% in the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer's stock worth $122,000 after acquiring an additional 883 shares during the last quarter. Institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Stock Performance

NASDAQ SIMO traded up $0.75 on Friday, reaching $53.54. The company's stock had a trading volume of 307,650 shares, compared to its average volume of 369,007. The firm's 50 day moving average is $48.08 and its two-hundred day moving average is $52.42. The stock has a market cap of $1.82 billion, a PE ratio of 19.90, a PEG ratio of 1.36 and a beta of 0.72. Silicon Motion Technology has a twelve month low of $37.21 and a twelve month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor producer reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. The company had revenue of $166.49 million during the quarter, compared to the consensus estimate of $162.69 million. Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. The company's quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Equities research analysts anticipate that Silicon Motion Technology will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology announced that its board has initiated a stock repurchase program on Wednesday, February 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.