Silicon Motion Technology Corporation (NASDAQ:SIMO) Receives Average Rating of “Buy” from Analysts

Silicon Motion Technology Corporation (NASDAQ:SIMO) has been given an average rating of “Buy” by the twelve research firms that are presently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $132.50.

Several equities research analysts recently commented on SIMO shares. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, February 5th. Roth Mkm set a $140.00 price target on Silicon Motion Technology and gave the company a “buy” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. increased their price objective on Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Wedbush lifted their target price on Silicon Motion Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Susquehanna upped their target price on Silicon Motion Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Monday, November 3rd.

Silicon Motion Technology Stock Performance

NASDAQ SIMO opened at $138.35 on Friday. The stock has a market capitalization of $4.70 billion, a P/E ratio of 38.01, a P/E/G ratio of 0.96 and a beta of 1.06. The business’s fifty day moving average is $106.59 and its two-hundred day moving average is $93.86. Silicon Motion Technology has a 1 year low of $37.21 and a 1 year high of $144.68.

Institutional Investors Weigh In On Silicon Motion Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC grew its holdings in shares of Silicon Motion Technology by 115.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after acquiring an additional 686,261 shares in the last quarter. Ophir Asset Management Pty Ltd acquired a new stake in Silicon Motion Technology during the second quarter valued at $27,941,000. Boston Partners grew its stake in Silicon Motion Technology by 33.2% in the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock valued at $55,294,000 after purchasing an additional 183,458 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Silicon Motion Technology by 40.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock valued at $57,840,000 after purchasing an additional 181,206 shares in the last quarter. Finally, Hawk Ridge Capital Management LP increased its position in Silicon Motion Technology by 71.8% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock worth $35,340,000 after purchasing an additional 155,817 shares during the last quarter. Hedge funds and other 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.