Silicon Motion Technology (NASDAQ:SIMO) Sets New 52-Week High – Should You Buy?

Silicon Motion Technology Corporation (NASDAQ:SIMO) hit a new 52-week high on Tuesday . The company traded as high as $90.55 and last traded at $90.01, with a volume of 191066 shares changing hands. The stock had previously closed at $88.73.

Analysts Set New Price Targets

A number of brokerages have weighed in on SIMO. Susquehanna lifted their target price on Silicon Motion Technology from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, August 1st. Needham & Company LLC lifted their target price on Silicon Motion Technology from $65.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Roth Capital increased their target price on Silicon Motion Technology from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, June 17th. Craig Hallum increased their target price on Silicon Motion Technology from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Citigroup raised Silicon Motion Technology to a “buy” rating in a research report on Wednesday, June 18th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $90.63.

Silicon Motion Technology Stock Up 1.4%

The company’s 50 day moving average price is $77.14 and its 200 day moving average price is $63.83. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 4.43 and a beta of 0.99.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.54 by $0.15. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The business had revenue of $198.68 million during the quarter, compared to the consensus estimate of $180.40 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. Silicon Motion Technology has set its Q3 2025 guidance at EPS. As a group, analysts expect that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current year.

Institutional Trading of Silicon Motion Technology

Several large investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC boosted its holdings in shares of Silicon Motion Technology by 0.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 17,733 shares of the semiconductor producer’s stock valued at $1,333,000 after acquiring an additional 159 shares during the last quarter. Marex Group plc purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at $3,197,000. Headlands Technologies LLC purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at $108,000. Corient Private Wealth LLC purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at $300,000. Finally, Vident Advisory LLC boosted its holdings in shares of Silicon Motion Technology by 215.2% in the 2nd quarter. Vident Advisory LLC now owns 29,300 shares of the semiconductor producer’s stock valued at $2,203,000 after acquiring an additional 20,004 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

About Silicon Motion Technology

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.