Silicon Motion Technology Corporation (NASDAQ:SIMO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Consensus "Moderate Buy": Twelve analysts cover SIMO with 11 "buy" and 1 "hold" recommendation, and the average 12‑month price target is $132.50.
• Analyst views vary at the high end—Craig Hallum and Needham set targets of $160 and $155 respectively (Roth MKM $140), while Zacks recently downgraded the stock to a "hold."
• Shares trade around $142 (near a 12‑month high of $147.60) with a market cap of $4.83B, a P/E of 39.01, PEG of 0.96, and roughly 78% ownership by institutional investors.

Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twelve research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $132.50.

Several research firms have weighed in on SIMO. Roth Mkm set a $140.00 target price on Silicon Motion Technology and gave the company a "buy" rating in a research report on Wednesday, February 4th. Needham & Company LLC lifted their target price on Silicon Motion Technology from $125.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Craig Hallum reaffirmed a "buy" rating and issued a $160.00 target price on shares of Silicon Motion Technology in a research report on Thursday, February 5th. Zacks Research downgraded Silicon Motion Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Silicon Motion Technology in a research report on Friday, March 27th.

Silicon Motion Technology Trading Up 0.0%

Shares of NASDAQ:SIMO opened at $142.00 on Friday. The business has a 50-day moving average price of $126.31 and a 200 day moving average price of $108.94. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 0.96 and a beta of 1.09. Silicon Motion Technology has a 12-month low of $42.00 and a 12-month high of $147.60.

Hedge Funds Weigh In On Silicon Motion Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. purchased a new stake in Silicon Motion Technology during the third quarter worth approximately $26,000. WealthCollab LLC lifted its stake in Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer's stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Arax Advisory Partners lifted its stake in Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer's stock worth $41,000 after purchasing an additional 307 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer's stock worth $44,000 after purchasing an additional 366 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in Silicon Motion Technology during the fourth quarter worth approximately $71,000. 78.02% of the stock is owned by institutional investors and hedge funds.

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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