Silicon Motion Technology Co. (NASDAQ: SIMO – Get Rating) received an average “Hold” recommendation from the nine research firms that are currently covering the firm, MarketBeat.com reports. Six analysts rated the stock with a pending recommendation and two issued a buy recommendation on the company. The 12-month average target price among brokers who have published a report on the stock over the past year is $ 102.67.
Several analysts have recently weighed on the stock. Roth Capital downgraded shares of Silicon Motion Technology from a “buy” rating to a “neutral” rating in a research note on Thursday, May 5. Susquehanna Bancshares downgraded Silicon Motion Technology’s stock from a “positive” rating to a “neutral” rating in a research note on Thursday, May 5. B. Riley downgraded Silicon Motion Technology’s stock from a “buy” rating to a “neutral” rating in a research note on Friday, May 6. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Wednesday, May 25. Finally, Susquehanna downgraded Silicon Motion Technology’s stock from a “positive” to a “neutral” rating in a report on Thursday May 5.
Several institutional investors and hedge funds have recently bought and sold shares in the company. Acadian Asset Management LLC increased its stake in Silicon Motion Technology by 4.8% in the first quarter. Acadian Asset Management LLC now owns 1,496,316 shares of the semiconductor maker worth $ 99,946,000 after buying another 67,956 shares in the last quarter. Baillie Gifford & Co. increased its stake in Silicon Motion Technology by 8.1% in the first quarter. Baillie Gifford & Co. now owns 788,897 shares of the semiconductor maker worth $ 52,713,000 after buying another 58,907 shares in the last quarter. Bank of America Corp DE increased its stake in Silicon Motion Technology by 2.3% in the fourth quarter. Bank of America Corp DE now owns 740,077 shares of the semiconductor maker worth $ 70,329,000 after buying another 16,375 shares in the last quarter. State Street Corp increased its stake in Silicon Motion Technology by 2.0% in the first quarter. State Street Corp now owns 643,896 shares of the semiconductor maker worth $ 42,957,000 after buying another 12,508 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Silicon Motion Technology by 16.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 608,035 shares of the semiconductor maker worth $ 40,629,000 after buying an additional 86,241 shares in the last quarter. 76.60% of the stock is currently held by institutional investors and hedge funds.
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Shares in the Silicon Motion Technology stock opened Friday at $ 91.04. Silicon Motion Technology has a 12-month low of $ 58.86 and a 12-month high of $ 98.65. The company has a market capitalization of $ 3.14 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.38, and a beta of 1.00. The company’s 50-day simple moving average is $ 84.54 and its two-hundred-day simple moving average is $ 81.37.
Silicon Motion Technology (NASDAQ: SIMO – Get Rating) last released its quarterly earnings results on Thursday, May 5. The semiconductor maker posted earnings per share (EPS) of $ 1.60 for the quarter, beating analyst consensus estimates of $ 1.41 by $ 0.19. The company reported revenue of $ 242.00 million for the quarter, compared with analysts’ estimates of $ 239.46 million. Silicon Motion Technology had a net margin of 22.42% and a return on equity of 33.47%. Silicon Motion Technology’s revenue for the quarter increased 32.7% from the same quarter last year. During the same quarter last year, the company posted EPS of $ 0.98. Equity research analysts expect Silicon Motion Technology to post EPS 7.51 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 26. A dividend of $ 0.50 per share was issued to major shareholders on Thursday, May 12. This represents an annualized dividend of $ 2.00 and a yield of 2.20%. The ex-dividend date was Wednesday 11 May. Silicon Motion Technology’s payout ratio is 31.44%.
Silicon Motion Technology Company Profile (Get evaluation)
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops and markets NAND flash controllers for solid state storage devices. Offers computer-grade solid-state drive (SSD) controllers 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 devices; and specialized SSDs used in industrial, commercial and automotive applications.
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