Silicon Motion Technology Corporation (NASDAQ:SIMO) Given Average Rating of "Buy" by Brokerages

Key Points

• Analyst consensus: Twelve analysts rate Silicon Motion Technology (NASDAQ:SIMO) an average of "Buy" — including 11 buys and 1 strong buy — with a 12-month average price target of $132.50.
• Several brokers recently raised targets or ratings, including Wedbush (price target to $150, "outperform"), Roth MKM ($140, "buy"), Zacks (upgraded to "strong-buy"), and new coverage from William Blair ("outperform").
• Stock snapshot: Market cap ~$3.74B, PE 30.24, P/E/G 0.73, institutional ownership ~78%, 52-week range $37.21–$146.85, opened at $110.06 with a 50-day MA of $124.61 and 200-day MA of $104.62.

Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) has been assigned an average recommendation of "Buy" from the twelve analysts that are currently covering the company, MarketBeat.com reports. Eleven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $132.50.

Several brokerages recently issued reports on SIMO. B. Riley Financial reissued a "buy" rating on shares of Silicon Motion Technology in a report on Thursday, February 5th. Wedbush raised their price objective on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Roth Mkm set a $140.00 target price on shares of Silicon Motion Technology and gave the company a "buy" rating in a research note on Wednesday, February 4th. Zacks Research raised Silicon Motion Technology from a "hold" rating to a "strong-buy" rating in a report on Friday, February 6th. Finally, William Blair started coverage on Silicon Motion Technology in a research report on Thursday, January 22nd. They set an "outperform" rating on the stock.

Institutional Trading of Silicon Motion Technology

Large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at $26,000. WealthCollab LLC lifted its position in Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer's stock worth $32,000 after buying an additional 151 shares in the last quarter. Arax Advisory Partners grew its holdings in Silicon Motion Technology by 220.9% during the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer's stock worth $41,000 after acquiring an additional 307 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer's stock valued at $44,000 after acquiring an additional 366 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in Silicon Motion Technology in the 4th quarter valued at about $71,000. Institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO opened at $110.06 on Monday. The company's fifty day moving average is $124.61 and its 200-day moving average is $104.62. Silicon Motion Technology has a 52 week low of $37.21 and a 52 week high of $146.85. The company has a market capitalization of $3.74 billion, a PE ratio of 30.24, a P/E/G ratio of 0.73 and a beta of 1.02.

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.

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