Silicon Motion Technology’s (SIMO) “Neutral” Rating Reaffirmed at Susquehanna Bancshares
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.
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.
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