Silicon Motion Technology (NASDAQ:SIMO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

SIMO has been the subject of a number of other research reports. Wedbush upped their price objective on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Needham & Company LLC boosted their price target on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. raised their price objective on Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. William Blair began coverage on Silicon Motion Technology in a research note on Thursday, January 22nd. They issued an “outperform” rating for the company. Finally, Craig Hallum restated a “buy” rating and set a $160.00 target price on shares of Silicon Motion Technology in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to MarketBeat, Silicon Motion Technology presently has a consensus rating of “Buy” and a consensus target price of $132.50.

Silicon Motion Technology Trading Down 1.5%

Shares of Silicon Motion Technology stock opened at $136.28 on Friday. The firm has a market capitalization of $4.63 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. Silicon Motion Technology has a 12 month low of $37.21 and a 12 month high of $144.68. The business’s 50-day moving average price is $108.34 and its 200-day moving average price is $94.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Frontier Capital Management Co. LLC grew its position in shares of Silicon Motion Technology by 115.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock worth $96,301,000 after buying an additional 686,261 shares during the last quarter. Wolf Hill Capital Management LP bought a new position in shares of Silicon Motion Technology during the fourth quarter valued at approximately $53,893,000. Ophir Asset Management Pty Ltd purchased a new stake in Silicon Motion Technology in the second quarter worth $27,941,000. Boston Partners lifted 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 worth $55,294,000 after acquiring an additional 183,458 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings 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 acquiring an additional 181,206 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

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.