Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have received a consensus rating of “Buy” from the thirteen analysts that are currently covering the company. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $53.77.

Several analysts have issued reports on the company. Zacks Investment Research raised Silicon Motion Technology Corp. from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a research note on Thursday, July 21st. B. Riley reissued a “buy” rating and issued a $64.50 price target on shares of Silicon Motion Technology Corp. in a research note on Tuesday, July 19th. Brean Capital reissued a “buy” rating on shares of Silicon Motion Technology Corp. in a research note on Monday, July 18th. Nomura reissued a “buy” rating and issued a $62.00 price target (up previously from $46.00) on shares of Silicon Motion Technology Corp. in a research note on Tuesday, July 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Silicon Motion Technology Corp. in a research note on Wednesday, September 7th.

Several large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Silicon Motion Technology Corp. by 98.2% in the first quarter. Wellington Management Group LLP now owns 3,029,892 shares of the company’s stock worth $117,591,000 after buying an additional 1,501,544 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Silicon Motion Technology Corp. by 39.5% in the first quarter. Lazard Asset Management LLC now owns 2,481,612 shares of the company’s stock worth $96,311,000 after buying an additional 703,150 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Silicon Motion Technology Corp. by 37.2% in the second quarter. JPMorgan Chase & Co. now owns 2,479,148 shares of the company’s stock worth $118,503,000 after buying an additional 671,966 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Silicon Motion Technology Corp. by 365.4% in the second quarter. Lord Abbett & CO. LLC now owns 1,049,179 shares of the company’s stock worth $50,151,000 after buying an additional 823,750 shares in the last quarter. Finally, Columbus Circle Investors boosted its stake in shares of Silicon Motion Technology Corp. by 28.2% in the second quarter. Columbus Circle Investors now owns 764,920 shares of the company’s stock worth $36,563,000 after buying an additional 168,229 shares in the last quarter. Institutional investors own 68.13% of the company’s stock.

Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) opened at 48.26 on Wednesday. Silicon Motion Technology Corp. has a one year low of $27.35 and a one year high of $56.25. The company has a 50-day moving average of $51.23 and a 200-day moving average of $47.17. The company has a market capitalization of $1.70 billion, a PE ratio of 21.50 and a beta of 1.30.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.10. Silicon Motion Technology Corp. had a return on equity of 22.62% and a net margin of 18.29%. On average, analysts anticipate that Silicon Motion Technology Corp. will post $3.25 earnings per share for the current year.

About Silicon Motion Technology Corp.

Silicon Motion Technology Corporation (SMTC) is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. For the mobile storage market, the Company’s products are microcontrollers used in solid state storage devices, such as Solid State Drives (SSDs), Embedded Multimedia Cards (eMMCs) and other embedded flash applications, as well as removable storage products.

5 Day Chart for NASDAQ:SIMO

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