Brokerages Set Silicon Motion Technology Corporation (NASDAQ:SIMO) PT at $83.89

Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) has been given a consensus recommendation of "Buy" by the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $83.89.

SIMO has been the subject of a number of research reports. B. Riley reissued a "buy" rating and set a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research report on Thursday, June 5th. Needham & Company LLC reduced their price target on Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wedbush reissued an "outperform" rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 30th. Citigroup upgraded Silicon Motion Technology to a "buy" rating in a report on Wednesday, June 18th. Finally, Roth Capital lifted their target price on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th.

Silicon Motion Technology Stock Performance

Shares of SIMO stock traded down $0.88 during trading on Friday, hitting $74.29. 328,820 shares of the company were exchanged, compared to its average volume of 385,859. The business's 50-day simple moving average is $61.97 and its 200 day simple moving average is $55.45. Silicon Motion Technology has a twelve month low of $37.21 and a twelve month high of $85.00. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 12.15 and a beta of 0.85.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its earnings results on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. Silicon Motion Technology had a net margin of 12.06% and a return on equity of 12.00%. The company had revenue of $166.49 million during the quarter, compared to the consensus estimate of $162.69 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The company's revenue was down 12.1% compared to the same quarter last year. On average, equities analysts forecast that Silicon Motion Technology will post 3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silicon Motion Technology

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in shares of Silicon Motion Technology by 8.7% in the fourth quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer's stock valued at $306,000 after purchasing an additional 453 shares during the period. TradeLink Capital LLC acquired a new position in Silicon Motion Technology in the 4th quarter valued at $228,000. Inspire Advisors LLC grew its stake in Silicon Motion Technology by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer's stock valued at $704,000 after buying an additional 467 shares during the last quarter. Boston Partners raised its holdings in Silicon Motion Technology by 47.3% in the 4th quarter. Boston Partners now owns 311,402 shares of the semiconductor producer's stock worth $16,831,000 after acquiring an additional 100,033 shares during the period. Finally, Virtu Financial LLC acquired a new position in Silicon Motion Technology during the 4th quarter worth $208,000. Institutional investors own 78.02% of the company's stock.

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.