Silicon Motion Technology (NASDAQ:SIMO) Reaches New 12-Month High - Here's Why

Key Points

• Silicon Motion Technology's stock reached a new 52-week high of $93.74 during recent trading, reflecting increased investor interest.
• Multiple analysts upgraded their ratings for Silicon Motion Technology, with a consensus rating of "Buy" and a target price of approximately $90.63.
• The company reported better-than-expected earnings for the last quarter, with an EPS of $0.69, surpassing analyst expectations of $0.54.

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $93.44 and last traded at $93.74, with a volume of 5897 shares traded. The stock had previously closed at $92.37.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Roth Capital upped their price objective on Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Bank of America raised Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research note on Wednesday, June 18th. Craig Hallum lifted their price objective on Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Susquehanna boosted their price objective 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, Citigroup upgraded shares of Silicon Motion Technology to a "buy" rating in a research report on Wednesday, June 18th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $90.63.

Silicon Motion Technology Trading Up 2.9%

The company has a 50 day moving average of $78.94 and a 200 day moving average of $65.14. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 40.11, a P/E/G ratio of 4.61 and a beta of 0.99.

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

Hedge Funds Weigh In On Silicon Motion Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in shares of Silicon Motion Technology by 124.6% in the fourth quarter. Ameriprise Financial Inc. now owns 6,430 shares of the semiconductor producer's stock valued at $345,000 after purchasing an additional 32,576 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Silicon Motion Technology in the fourth quarter valued at approximately $256,000. Vident Advisory LLC lifted its holdings in Silicon Motion Technology by 90.2% during the 4th quarter. Vident Advisory LLC now owns 7,346 shares of the semiconductor producer's stock valued at $397,000 after purchasing an additional 3,483 shares during the last quarter. Menard Financial Group LLC acquired a new position in Silicon Motion Technology in the 4th quarter valued at about $88,000. Finally, Wellington Management Group LLP grew its position in shares of Silicon Motion Technology by 40.1% in the fourth quarter. Wellington Management Group LLP now owns 797,192 shares of the semiconductor producer's stock valued at $43,088,000 after purchasing an additional 228,333 shares during the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

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.