Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) have been assigned an average rating of “Buy” from the thirteen brokerages that are covering the firm. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $54.06.

SIMO has been the topic of a number of recent analyst reports. Northland Securities reaffirmed an “outperform” rating and set a $60.00 price target on shares of Silicon Motion Technology Corp. in a research note on Wednesday, October 5th. Roth Capital assumed coverage on shares of Silicon Motion Technology Corp. in a research report on Wednesday, September 28th. They issued a “buy” rating and a $60.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Silicon Motion Technology Corp. in a research report on Wednesday, September 7th. Zacks Investment Research raised shares of Silicon Motion Technology Corp. from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 25th. Finally, Brean Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Silicon Motion Technology Corp. in a research report on Tuesday, July 26th.

Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) opened at 46.45 on Wednesday. The firm’s 50 day moving average is $0.00 and its 200-day moving average is $0.00.

Silicon Motion Technology Corp. (NASDAQ:SIMO) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.13. The company had revenue of $158.60 million for the quarter, compared to the consensus estimate of $149.16 million. Silicon Motion Technology Corp. had a net margin of 19.25% and a return on equity of 26.18%. Silicon Motion Technology Corp.’s revenue was up 66.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. Equities analysts anticipate that Silicon Motion Technology Corp. will post $3.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were issued a dividend of $0.20 per share. This is a positive change from Silicon Motion Technology Corp.’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, November 3rd. Silicon Motion Technology Corp.’s dividend payout ratio (DPR) is currently 23.10%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of Silicon Motion Technology Corp. during the second quarter valued at $164,000. Advisor Group Inc. bought a new position in shares of Silicon Motion Technology Corp. during the second quarter valued at $168,000. BNP Paribas Arbitrage SA bought a new position in shares of Silicon Motion Technology Corp. during the third quarter valued at $215,000. Zacks Investment Management bought a new position in shares of Silicon Motion Technology Corp. during the third quarter valued at $215,000. Finally, Sei Investments Co. raised its position in shares of Silicon Motion Technology Corp. by 98.6% in the second quarter. Sei Investments Co. now owns 4,410 shares of the company’s stock valued at $211,000 after buying an additional 2,189 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

Silicon Motion Technology Corp. Company Profile

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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