Silicon Motion Technology (NASDAQ:SIMO) Hits New 12-Month High - Here's What Happened

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) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $85.50 and last traded at $84.90, with a volume of 48939 shares. The stock had previously closed at $83.91.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SIMO. 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 report on Wednesday, June 18th. B. Riley reiterated a "buy" rating and issued a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a report on Thursday, June 5th. Citigroup upgraded shares of Silicon Motion Technology to a "buy" rating in a report on Wednesday, June 18th. Susquehanna boosted their target price on Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, August 1st. Finally, Needham & Company LLC upped their price target on Silicon Motion Technology from $65.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, Silicon Motion Technology has an average rating of "Buy" and an average target price of $87.78.

Silicon Motion Technology Price Performance

The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 4.24 and a beta of 0.99. The business has a fifty day moving average of $76.06 and a 200 day moving average of $62.89.

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

Institutional Investors Weigh In On Silicon Motion Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its stake in Silicon Motion Technology by 61.3% during the 1st quarter. Invesco Ltd. now owns 1,675,648 shares of the semiconductor producer's stock worth $84,721,000 after acquiring an additional 636,869 shares in the last quarter. Reinhart Partners LLC. increased its stake in Silicon Motion Technology by 7.9% during the second quarter. Reinhart Partners LLC. now owns 1,471,583 shares of the semiconductor producer's stock worth $110,620,000 after purchasing an additional 107,292 shares during the period. Acadian Asset Management LLC increased its stake in Silicon Motion Technology by 4.1% during the second quarter. Acadian Asset Management LLC now owns 1,310,353 shares of the semiconductor producer's stock worth $98,453,000 after purchasing an additional 51,978 shares during the period. Frontier Capital Management Co. LLC lifted its position in shares of Silicon Motion Technology by 115.4% during the second quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer's stock worth $96,301,000 after purchasing an additional 686,261 shares in the last quarter. Finally, Pertento Partners LLP boosted its stake in shares of Silicon Motion Technology by 4.1% in the second quarter. Pertento Partners LLP now owns 1,259,004 shares of the semiconductor producer's stock valued at $94,639,000 after purchasing an additional 49,541 shares during the period. Hedge funds and other 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.

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