Silicon Motion Technology (NASDAQ:SIMO) Price Target Increased to $105.00 by Analysts at B. Riley

Silicon Motion Technology (NASDAQ:SIMO) had its target price lifted by B. Riley from $101.00 to $105.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor producer’s stock.

A number of other equities analysts have also commented on the stock. Craig Hallum boosted their price objective on shares of Silicon Motion Technology from $80.00 to $96.00 and gave the stock a buy rating in a report on Monday. Wedbush reissued an outperform rating and issued a $85.00 price target on shares of Silicon Motion Technology in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Morgan Stanley upgraded Silicon Motion Technology from an equal weight rating to an overweight rating and increased their target price for the company from $59.00 to $88.00 in a research note on Monday. Finally, StockNews.com upgraded shares of Silicon Motion Technology from a hold rating to a buy rating in a research note on Friday, May 3rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $91.13.

Silicon Motion Technology Price Performance

Shares of SIMO opened at $77.73 on Monday. Silicon Motion Technology has a 12 month low of $49.50 and a 12 month high of $95.33. The stock has a market cap of $2.62 billion, a PE ratio of 43.69, a P/E/G ratio of 3.98 and a beta of 0.87. The stock’s 50-day moving average is $75.29 and its two-hundred day moving average is $66.28.

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

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is presently 113.07%.

Hedge Funds Weigh In On Silicon Motion Technology

A number of large investors have recently bought and sold shares of SIMO. Parallel Advisors LLC raised its position in shares of Silicon Motion Technology by 154.9% during the 4th quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after purchasing an additional 333 shares during the period. Janney Montgomery Scott LLC increased its position in Silicon Motion Technology by 0.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 73,150 shares of the semiconductor producer’s stock worth $4,482,000 after buying an additional 341 shares during the period. Assetmark Inc. lifted its stake in Silicon Motion Technology by 34.5% in the fourth quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock valued at $82,000 after buying an additional 342 shares during the last quarter. Signaturefd LLC grew its position in shares of Silicon Motion Technology by 183.5% during the third quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer’s stock worth $35,000 after acquiring an additional 444 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Silicon Motion Technology by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,788 shares of the semiconductor producer’s stock worth $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.