BidaskClub lowered shares of Silicon Motion Technology (NASDAQ:SIMO) from a buy rating to a hold rating in a research report released on Monday, BidAskClub reports.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Silicon Motion Technology from a sell rating to a buy rating and set a $47.00 price target on the stock in a research report on Saturday, November 2nd. Roth Capital increased their price target on shares of Silicon Motion Technology from $45.00 to $55.00 in a research report on Wednesday, October 30th. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $44.00 to $55.00 in a research report on Wednesday, October 30th. Wedbush began coverage on shares of Silicon Motion Technology in a research report on Tuesday, October 22nd. They issued a neutral rating and a $39.00 price target on the stock. Finally, KeyCorp set a $58.00 price target on shares of Silicon Motion Technology and gave the stock a hold rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $47.49.

Silicon Motion Technology stock traded up $0.38 during midday trading on Monday, reaching $43.03. 107,182 shares of the company traded hands, compared to its average volume of 326,162. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 3.55 and a beta of 1.09. The business has a 50 day moving average of $39.68 and a two-hundred day moving average of $38.26. Silicon Motion Technology has a 12 month low of $30.86 and a 12 month high of $47.23.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor producer reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.31. The company had revenue of $110.50 million for the quarter, compared to the consensus estimate of $112.08 million. Silicon Motion Technology had a net margin of 13.16% and a return on equity of 13.22%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Sell-side analysts forecast that Silicon Motion Technology will post 1.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This is a boost from Silicon Motion Technology’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.25%. Silicon Motion Technology’s dividend payout ratio is 40.76%.

Several hedge funds and other institutional investors have recently made changes to their positions in SIMO. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Silicon Motion Technology in the third quarter worth $36,000. CWM LLC increased its stake in shares of Silicon Motion Technology by 3,624.1% in the second quarter. CWM LLC now owns 1,080 shares of the semiconductor producer’s stock worth $48,000 after purchasing an additional 1,051 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Silicon Motion Technology by 60.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,480 shares of the semiconductor producer’s stock worth $66,000 after purchasing an additional 557 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Silicon Motion Technology by 12.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,590 shares of the semiconductor producer’s stock worth $92,000 after purchasing an additional 292 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Silicon Motion Technology in the third quarter worth $98,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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