Silicon Motion Technology (NASDAQ:SIMO) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Silicon Motion Technology (NASDAQ:SIMO) from a "strong‑buy" to a "buy" rating in its latest report.
• Analysts still show a consensus Buy with an average price target of $132.50; the stock opened at $123.26, has a market cap of about $4.19 billion, and a 12‑month range of $37.21–$146.85.
• Institutional ownership is high at 78.02%, and several funds (e.g., Frontier Capital, Man Group) have substantially increased their positions, signaling notable institutional inflows.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

SIMO has been the subject of several other research reports. Zacks Research upgraded shares of Silicon Motion Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 6th. Roth Mkm set a $140.00 price target on shares of Silicon Motion Technology and gave the company a "buy" rating in a research report on Wednesday, February 4th. William Blair began coverage on shares of Silicon Motion Technology in a report on Thursday, January 22nd. They set an "outperform" rating on the stock. Wedbush upped their price objective on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Silicon Motion Technology in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $132.50.

Silicon Motion Technology Trading Up 2.6%

Shares of Silicon Motion Technology stock opened at $123.26 on Friday. The company has a market capitalization of $4.19 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 0.80 and a beta of 1.02. The stock has a fifty day simple moving average of $122.76 and a 200 day simple moving average of $101.58. Silicon Motion Technology has a 12-month low of $37.21 and a 12-month high of $146.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Frontier Capital Management Co. LLC lifted its stake in Silicon Motion Technology by 115.4% in the second quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer's stock valued at $96,301,000 after purchasing an additional 686,261 shares during the last quarter. Wolf Hill Capital Management LP purchased a new stake in Silicon Motion Technology in the fourth quarter worth $53,893,000. Hawk Ridge Capital Management LP raised its stake in shares of Silicon Motion Technology by 111.3% in the fourth quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer's stock valued at $73,024,000 after buying an additional 415,000 shares during the period. Ophir Asset Management Pty Ltd bought a new stake in shares of Silicon Motion Technology in the second quarter valued at $27,941,000. Finally, Man Group plc lifted its position in shares of Silicon Motion Technology by 820.7% during the 4th quarter. Man Group plc now owns 381,048 shares of the semiconductor producer's stock valued at $35,323,000 after buying an additional 339,663 shares during the last quarter. 78.02% of the stock is owned by institutional investors.

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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