Silicon Motion Technology (NASDAQ:SIMO) Hits New 12-Month High - Still a Buy?

Key Points

• Silicon Motion Technology (NASDAQ: SIMO) shares reached a new 52-week high at $99.80, closing at $98.17, reflecting increasing investor interest with a trading volume of 174,138 shares.
• Analysts are optimistic about SIMO, with nine investment firms rating it "Buy" and recent price targets raised significantly, indicating strong confidence in the stock's future performance.
• The company's quarterly earnings report showed an EPS of $0.69, exceeding estimates by $0.15, although revenue decreased by 5.7% compared to the same quarter last year.

Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $99.80 and last traded at $98.17, with a volume of 174138 shares trading hands. The stock had previously closed at $97.30.

Wall Street Analyst Weigh In

SIMO has been the topic of several research reports. Craig Hallum raised their price objective on Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Needham & Company LLC raised their price target on Silicon Motion Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Susquehanna boosted their price objective on Silicon Motion Technology from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, August 1st. B. Riley increased their price objective on Silicon Motion Technology from $105.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Finally, Bank of America upgraded shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Wednesday, June 18th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $94.38.

Silicon Motion Technology Trading Up 1.9%

The company has a market cap of $3.37 billion, a PE ratio of 41.88, a price-to-earnings-growth ratio of 4.74 and a beta of 1.03. The stock has a fifty day simple moving average of $81.77 and a two-hundred day simple moving average of $66.94.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.54 by $0.15. The business had revenue of $198.68 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Silicon Motion Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal year.

Institutional Trading of Silicon Motion Technology

A number of institutional investors have recently added to or reduced their stakes in SIMO. Corient Private Wealth LLC purchased a new position in Silicon Motion Technology in the second quarter valued at about $300,000. Orion Porfolio Solutions LLC increased its stake in Silicon Motion Technology by 0.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 17,733 shares of the semiconductor producer's stock valued at $1,333,000 after purchasing an additional 159 shares in the last quarter. Marex Group plc purchased a new position in Silicon Motion Technology in the 2nd quarter valued at approximately $3,197,000. Headlands Technologies LLC acquired a new position in Silicon Motion Technology during the second quarter worth $108,000. Finally, Vident Advisory LLC boosted its position in Silicon Motion Technology by 215.2% during the second quarter. Vident Advisory LLC now owns 29,300 shares of the semiconductor producer's stock worth $2,203,000 after purchasing an additional 20,004 shares in the last quarter. 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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