Silicon Motion Technology (NASDAQ:SIMO)‘s stock had its “neutral” rating reissued by Susquehanna Bancshares in a research report issued to clients and investors on Tuesday.

SIMO has been the subject of a number of other research reports. B. Riley set a $69.00 target price on Silicon Motion Technology and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Needham & Company LLC restated a “buy” rating and set a $57.00 target price on shares of Silicon Motion Technology in a research report on Friday, October 27th. Zacks Investment Research upgraded Silicon Motion Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Loop Capital boosted their target price on Silicon Motion Technology from $51.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.23.

Shares of Silicon Motion Technology (NASDAQ SIMO) opened at $50.70 on Tuesday. The firm has a market capitalization of $1,790.00, a price-to-earnings ratio of 19.80 and a beta of 0.66. Silicon Motion Technology has a 52-week low of $37.37 and a 52-week high of $56.51.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $127.24 million. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The firm’s quarterly revenue was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. equities analysts forecast that Silicon Motion Technology will post 2.31 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. bought a new stake in Silicon Motion Technology in the third quarter valued at about $101,000. Advisors Preferred LLC increased its holdings in Silicon Motion Technology by 451.0% in the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after purchasing an additional 2,183 shares during the last quarter. Seven Eight Capital LP bought a new stake in Silicon Motion Technology in the second quarter valued at about $135,000. Boothbay Fund Management LLC bought a new stake in Silicon Motion Technology in the third quarter valued at about $251,000. Finally, Virtu KCG Holdings LLC increased its holdings in Silicon Motion Technology by 25.3% in the second quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock valued at $278,000 after purchasing an additional 1,164 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

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About Silicon Motion Technology

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 (NASDAQ:SIMO)

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