Susquehanna Raises Silicon Motion Technology (NASDAQ:SIMO) Price Target to $110.00

Silicon Motion Technology (NASDAQ:SIMO) had its price target hoisted by Susquehanna from $100.00 to $110.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a positive rating on the semiconductor producer’s stock.

Several other equities analysts also recently weighed in on the stock. Needham & Company LLC restated a buy rating and set a $85.00 target price on shares of Silicon Motion Technology in a report on Monday. B. Riley lifted their price objective on Silicon Motion Technology from $93.00 to $101.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Morgan Stanley upgraded shares of Silicon Motion Technology from an equal weight rating to an overweight rating and upped their target price for the company from $59.00 to $88.00 in a report on Monday. StockNews.com upgraded shares of Silicon Motion Technology from a hold rating to a buy rating in a report on Friday, May 3rd. Finally, Wedbush reissued an outperform rating and set a $85.00 price objective on shares of Silicon Motion Technology in a research note on Friday, May 3rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $91.13.

Silicon Motion Technology Trading Down 0.7 %

Shares of Silicon Motion Technology stock opened at $78.72 on Monday. The company has a fifty day simple moving average of $75.17 and a 200-day simple moving average of $66.21. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 3.98 and a beta of 0.87. Silicon Motion Technology has a 12-month low of $49.50 and a 12-month high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. The firm had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $197.60 million. Silicon Motion Technology had a return on equity of 7.77% and a net margin of 8.34%. On average, analysts forecast that Silicon Motion Technology will post 2.65 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a yield of 2.54%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 113.07%.

Hedge Funds Weigh In On Silicon Motion Technology

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in Silicon Motion Technology by 154.9% during the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock valued at $34,000 after purchasing an additional 333 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Silicon Motion Technology by 183.5% in the 3rd quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer’s stock valued at $35,000 after buying an additional 444 shares during the period. Assetmark Inc. bought a new stake in shares of Silicon Motion Technology during the 3rd quarter valued at about $51,000. CVA Family Office LLC acquired a new stake in Silicon Motion Technology during the fourth quarter worth about $65,000. Finally, Covestor Ltd boosted its stake in Silicon Motion Technology by 76.9% in the third quarter. Covestor Ltd now owns 1,788 shares of the semiconductor producer’s stock valued at $92,000 after acquiring an additional 777 shares during the period. Institutional investors own 78.02% of the company’s stock.

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.