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

Key Points

• Silicon Motion Technology (NASDAQ:SIMO) reached a new 52-week high of $90.55, closing at $90.01 with significant trading volume of 191,066 shares.
• Multiple analysts have upgraded the stock to a "buy" rating, with target prices ranging from $90.00 to $100.00, indicating strong market sentiment.
• The company's latest earnings report showed earnings per share of $0.69, exceeding expectations and marking a year-over-year revenue drop of 5.7%.

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $90.55 and last traded at $90.01, with a volume of 191066 shares. The stock had previously closed at $88.73.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SIMO shares. Needham & Company LLC increased their target price on Silicon Motion Technology from $65.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. B. Riley reaffirmed a "buy" rating and set a $90.00 target price (up previously from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Craig Hallum upped their price target on Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Citigroup upgraded Silicon Motion Technology to a "buy" rating in a report on Wednesday, June 18th. Finally, Susquehanna raised their price target on Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $90.63.

Silicon Motion Technology Trading Up 1.1%

The business has a fifty day moving average of $78.48 and a 200-day moving average of $64.70. The company has a market cap of $3.14 billion, a PE ratio of 38.97, a P/E/G ratio of 4.56 and a beta of 0.99.

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

Institutional Investors Weigh In On Silicon Motion Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Cerity Partners LLC lifted its stake in shares of Silicon Motion Technology by 35.9% in the first quarter. Cerity Partners LLC now owns 31,413 shares of the semiconductor producer's stock worth $1,588,000 after buying an additional 8,298 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Silicon Motion Technology by 66.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer's stock valued at $195,000 after buying an additional 1,529 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Silicon Motion Technology during the 1st quarter worth $238,000. Oppenheimer Asset Management Inc. raised its position in shares of Silicon Motion Technology by 16.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,692 shares of the semiconductor producer's stock worth $288,000 after acquiring an additional 785 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Silicon Motion Technology by 65.5% in the second quarter. Harbor Capital Advisors Inc. now owns 202,721 shares of the semiconductor producer's stock valued at $15,239,000 after acquiring an additional 80,208 shares during the period. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Motion Technology Company Profile

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.