Weiss Ratings Reiterates Hold (C) Rating for Silicon Motion Technology (NASDAQ:SIMO)

Key Points

• Weiss Ratings has maintained a "Hold (C)" rating for Silicon Motion Technology (NASDAQ:SIMO), indicating a cautious stance on the stock's performance.
• Several brokerages have increased their price targets for Silicon Motion Technology, with Craig Hallum raising it from $70.00 to $100.00 and Needham & Company from $65.00 to $90.00, both giving a "Buy" rating.
• Silicon Motion Technology reported earnings per share (EPS) of $0.69 for the latest quarter, exceeding analyst expectations, but the revenue decreased by 5.7% year-over-year.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also commented on SIMO. Craig Hallum lifted their price objective on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their price target on shares of Silicon Motion Technology from $65.00 to $90.00 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 report on Wednesday, June 18th. Susquehanna boosted their price target 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. Finally, Roth Capital boosted their price target on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.43.

Silicon Motion Technology Stock Performance

Shares of SIMO stock opened at $93.86 on Wednesday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 4.72 and a beta of 1.03. Silicon Motion Technology has a 52 week low of $37.21 and a 52 week high of $104.90. The firm's 50-day simple moving average is $84.03 and its two-hundred day simple moving average is $68.41.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced 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 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 company's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Silicon Motion Technology has set its Q3 2025 guidance at EPS. Analysts forecast that Silicon Motion Technology will post 3.08 earnings per share for the current year.

Hedge Funds Weigh In On Silicon Motion Technology

Several hedge funds have recently bought and sold shares of SIMO. Frontier Capital Management Co. LLC grew its stake in Silicon Motion Technology by 115.4% during 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 acquiring an additional 686,261 shares in the last quarter. Invesco Ltd. grew its stake in Silicon Motion Technology by 61.3% during the first quarter. Invesco Ltd. now owns 1,675,648 shares of the semiconductor producer's stock valued at $84,721,000 after acquiring an additional 636,869 shares in the last quarter. Ophir Asset Management Pty Ltd purchased a new position in Silicon Motion Technology during the second quarter valued at approximately $27,941,000. Boston Partners grew its stake in Silicon Motion Technology by 77.3% during the first quarter. Boston Partners now owns 552,139 shares of the semiconductor producer's stock valued at $27,900,000 after acquiring an additional 240,737 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC grew its stake in Silicon Motion Technology by 94.3% in the 1st quarter. Neumeier Poma Investment Counsel LLC now owns 353,015 shares of the semiconductor producer's stock worth $17,848,000 after buying an additional 171,350 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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