Silicon Motion Technology (NASDAQ:SIMO) Sets New 52-Week High - Still a Buy?

Key Points

• Silicon Motion Technology's stock reached a new 12-month high at $85.50, with the latest trading at $84.90, indicating strong market performance.
• Recent analyst reports have positive ratings for the company, with **Bank of America** and **Needham** both setting price targets at **$90.00**, while **Susquehanna** raised its target to **$95.00**.
• Despite a drop in year-over-year revenue, Silicon Motion reported an earnings per share (EPS) of **$0.69**, exceeding expectations by **$0.15** during its last earnings report.

Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $85.50 and last traded at $84.90, with a volume of 48939 shares trading hands. The stock had previously closed at $83.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. B. Riley reiterated a "buy" rating and set a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Susquehanna raised 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. Craig Hallum raised 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 increased their target price on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Bank of America raised shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Wednesday, June 18th. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $87.78.

Silicon Motion Technology Stock Up 1.4%

The firm's 50-day moving average price is $76.82 and its two-hundred day moving average price is $63.60. The firm has a market capitalization of $3.06 billion, a PE ratio of 37.98, a P/E/G ratio of 4.43 and a beta of 0.99.

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

Institutional Investors Weigh In On Silicon Motion Technology

Several large investors have recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of Silicon Motion Technology by 61.3% in the 1st quarter. Invesco Ltd. now owns 1,675,648 shares of the semiconductor producer's stock valued at $84,721,000 after buying an additional 636,869 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of Silicon Motion Technology by 7.9% in the 2nd quarter. Reinhart Partners LLC. now owns 1,471,583 shares of the semiconductor producer's stock valued at $110,620,000 after buying an additional 107,292 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Silicon Motion Technology by 4.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,310,353 shares of the semiconductor producer's stock valued at $98,453,000 after buying an additional 51,978 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Silicon Motion Technology by 115.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer's stock valued at $96,301,000 after buying an additional 686,261 shares in the last quarter. Finally, Pertento Partners LLP grew its stake in shares of Silicon Motion Technology by 4.1% in the 2nd quarter. Pertento Partners LLP now owns 1,259,004 shares of the semiconductor producer's stock valued at $94,639,000 after buying an additional 49,541 shares in the last quarter. Institutional investors own 78.02% of the company's stock.

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.