Silicon Motion Technology Corporation (NASDAQ:SIMO) Receives $87.78 Average Price Target from Analysts

Key Points

• Silicon Motion Technology Corporation (NASDAQ:SIMO) has received a consensus "Buy" rating from ten brokerages, with an average one-year price target of $87.78.
• Frontier Capital Management significantly increased its position in SIMO by 115.4%, now owning over 1.2 million shares valued at approximately $96.3 million.
• The company reported a Q2 EPS of $0.69, exceeding analyst expectations, despite a 5.7% year-over-year revenue decline.

Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) has received an average recommendation of "Buy" from the nine ratings firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $90.6250.

A number of research analysts have recently commented on the stock. Craig Hallum upped their price objective on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Needham & Company LLC boosted their target price on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Bank of America raised shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research note on Wednesday, June 18th. Susquehanna boosted their price objective on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, August 1st. Finally, B. Riley restated a "buy" rating and set a $90.00 price objective (up from $75.00) on shares of Silicon Motion Technology in a report on Thursday, June 5th.

Hedge Funds Weigh In On Silicon Motion Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of Silicon Motion Technology by 3,234.2% during the 4th quarter. Northern Trust Corp now owns 136,636 shares of the semiconductor producer's stock worth $7,385,000 after purchasing an additional 132,538 shares during the period. Ameriprise Financial Inc. lifted its position in Silicon Motion Technology by 124.6% during the fourth quarter. Ameriprise Financial Inc. now owns 6,430 shares of the semiconductor producer's stock valued at $345,000 after buying an additional 32,576 shares in the last quarter. Lazard Asset Management LLC grew its stake in Silicon Motion Technology by 51.7% during the fourth quarter. Lazard Asset Management LLC now owns 35,493 shares of the semiconductor producer's stock worth $1,918,000 after buying an additional 12,089 shares during the period. Point72 Asset Management L.P. increased its position in shares of Silicon Motion Technology by 128.3% in the fourth quarter. Point72 Asset Management L.P. now owns 69,631 shares of the semiconductor producer's stock worth $3,764,000 after acquiring an additional 39,131 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in shares of Silicon Motion Technology in the 4th quarter valued at $15,006,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Price Performance

SIMO stock traded up $0.28 during midday trading on Thursday, hitting $90.29. The stock had a trading volume of 258,679 shares, compared to its average volume of 253,179. The company's 50-day moving average price is $77.50 and its 200 day moving average price is $64.02. The firm has a market cap of $3.07 billion, a PE ratio of 38.10, a price-to-earnings-growth ratio of 4.50 and a beta of 0.99. Silicon Motion Technology has a 12-month low of $37.21 and a 12-month high of $91.20.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.15. The company had revenue of $198.68 million for the quarter, compared to analyst estimates of $180.40 million. Silicon Motion Technology had a return on equity of 10.14% and a net margin of 10.36%.The business's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. Silicon Motion Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Silicon Motion Technology will post 3.08 EPS for the current year.

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.