Silicon Motion Technology Corporation (NASDAQ:SIMO) has been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $56.73.

A number of research firms have weighed in on SIMO. Loop Capital reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Silicon Motion Technology Corporation in a research note on Tuesday, August 22nd. Lake Street Capital reaffirmed a “buy” rating and issued a $50.00 price objective (down from $56.00) on shares of Silicon Motion Technology Corporation in a research note on Tuesday, August 8th. B. Riley reaffirmed a “buy” rating and issued a $68.75 price objective on shares of Silicon Motion Technology Corporation in a research note on Monday, August 7th. Craig Hallum reaffirmed a “buy” rating and issued a $60.00 price objective (down from $67.00) on shares of Silicon Motion Technology Corporation in a research note on Wednesday, August 2nd. Finally, Roth Capital dropped their price objective on shares of Silicon Motion Technology Corporation from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st.

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A number of hedge funds have recently made changes to their positions in SIMO. US Bancorp DE raised its stake in shares of Silicon Motion Technology Corporation by 71.5% in the first quarter. US Bancorp DE now owns 2,194 shares of the semiconductor producer’s stock valued at $102,000 after buying an additional 915 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Silicon Motion Technology Corporation during the second quarter valued at approximately $135,000. Summit Securities Group LLC bought a new stake in shares of Silicon Motion Technology Corporation during the second quarter valued at approximately $204,000. Hikari Power Ltd bought a new stake in shares of Silicon Motion Technology Corporation during the second quarter valued at approximately $204,000. Finally, Airain ltd bought a new stake in shares of Silicon Motion Technology Corporation during the second quarter valued at approximately $213,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Corporation (SIMO) traded up 1.64% during trading on Friday, reaching $43.50. 383,209 shares of the company’s stock traded hands. The firm has a market cap of $1.55 billion, a PE ratio of 14.71 and a beta of 0.68. The firm has a 50 day moving average price of $42.81 and a 200-day moving average price of $45.97. Silicon Motion Technology Corporation has a 12 month low of $37.37 and a 12 month high of $56.25.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last released its quarterly earnings data on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.04. Silicon Motion Technology Corporation had a net margin of 18.91% and a return on equity of 24.24%. The business had revenue of $132.70 million during the quarter, compared to the consensus estimate of $132.92 million. During the same period last year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts forecast that Silicon Motion Technology Corporation will post $2.67 earnings per share for the current fiscal year.

Silicon Motion Technology Corporation announced that its Board of Directors has approved a stock repurchase program on Monday, July 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor producer to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Silicon Motion Technology Corporation Company Profile

Silicon Motion Technology Corporation 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. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Analyst Recommendations for Silicon Motion Technology Corporation (NASDAQ:SIMO)

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