Silicon Motion Technology (NASDAQ:SIMO) PT Raised to $96.00 at Craig Hallum

Silicon Motion Technology (NASDAQ:SIMO) had its target price lifted by equities researchers at Craig Hallum from $80.00 to $96.00 in a research note issued to investors on Monday, Briefing.com reports. The firm currently has a “buy” rating on the semiconductor producer’s stock. Craig Hallum’s target price would suggest a potential upside of 29.80% from the stock’s previous close.

Several other equities research analysts have also issued reports on SIMO. Wedbush reissued an “outperform” rating and set a $85.00 target price on shares of Silicon Motion Technology in a research note on Friday. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday. B. Riley boosted their target price on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC lifted their price target on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley upgraded Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $88.00 in a research report on Monday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $89.63.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $73.96 on Monday. Silicon Motion Technology has a 1-year low of $49.50 and a 1-year high of $95.33. The business has a fifty day moving average price of $74.63 and a 200-day moving average price of $65.79. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 3.98 and a beta of 0.87.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.12. Silicon Motion Technology had a return on equity of 7.77% and a net margin of 8.34%. The business had revenue of $202.38 million for the quarter, compared to analyst estimates of $197.60 million. On average, equities research analysts anticipate that Silicon Motion Technology will post 2.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silicon Motion Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Advisors LLC acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at $646,000. Skylands Capital LLC boosted its stake in shares of Silicon Motion Technology by 46.7% in the 3rd quarter. Skylands Capital LLC now owns 35,200 shares of the semiconductor producer’s stock valued at $1,804,000 after buying an additional 11,200 shares during the period. Assetmark Inc. acquired a new stake in Silicon Motion Technology in the third quarter valued at approximately $51,000. Signaturefd LLC raised its stake in Silicon Motion Technology by 183.5% in the third quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer’s stock valued at $35,000 after buying an additional 444 shares in the last quarter. Finally, Privium Fund Management UK Ltd raised its holdings in Silicon Motion Technology by 21.4% during the third quarter. Privium Fund Management UK Ltd now owns 8,500 shares of the semiconductor producer’s stock worth $435,000 after purchasing an additional 1,500 shares in the last quarter. 78.02% of the stock is currently 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 NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.