Silicon Motion Technology (NASDAQ:SIMO) Stock Price Expected to Rise, B. Riley Analyst Says

Key Points

• B. Riley has raised its price target for Silicon Motion Technology from $105 to $120, suggesting a potential upside of 29.78% from the current stock price.
• Several other analysts have also upgraded their price targets, with Needham & Company setting theirs at $90 and Craig Hallum at $100, reflecting strong buy ratings across the board.
• Silicon Motion Technology recently reported earnings that exceeded analysts' expectations, with an earnings per share of $0.69, beating the consensus estimate of $0.54.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) had its price target lifted by B. Riley from $105.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor producer's stock. B. Riley's target price indicates a potential upside of 29.78% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $65.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Susquehanna raised their price objective on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, August 1st. Craig Hallum raised their price objective on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Citigroup raised shares of Silicon Motion Technology to a "buy" rating in a research note on Wednesday, June 18th. Finally, Roth Capital lifted their price objective on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $94.38.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO traded up $1.12 during trading on Wednesday, reaching $92.47. The company had a trading volume of 37,326 shares, compared to its average volume of 412,889. Silicon Motion Technology has a twelve month low of $37.21 and a twelve month high of $97.70. The firm has a market capitalization of $3.14 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 4.75 and a beta of 0.99. The firm's fifty day moving average is $79.34 and its 200 day moving average is $65.32.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.15. The business had revenue of $198.68 million for the quarter, compared to analyst estimates of $180.40 million. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The firm's revenue was down 5.7% compared to the same quarter last year. 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. Equities analysts predict that Silicon Motion Technology will post 3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silicon Motion Technology

A number of institutional investors and hedge funds have recently modified their holdings of SIMO. EverSource Wealth Advisors LLC boosted its holdings in shares of Silicon Motion Technology by 169.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer's stock worth $44,000 after buying an additional 366 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Silicon Motion Technology by 61.8% during the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock worth $58,000 after buying an additional 440 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Silicon Motion Technology by 118.3% in the 2nd quarter. GAMMA Investing LLC now owns 976 shares of the semiconductor producer's stock worth $73,000 after purchasing an additional 529 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Silicon Motion Technology in the 2nd quarter worth $75,000. Finally, Signaturefd LLC lifted its holdings in shares of Silicon Motion Technology by 79.3% in the 1st quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock worth $84,000 after purchasing an additional 736 shares in the last quarter. 78.02% of the stock is currently 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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