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

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Eleven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $132.50.

Several analysts recently commented on the company. Zacks Research upgraded Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Craig Hallum reaffirmed a “buy” rating and set a $160.00 target price on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Wedbush upped their target price on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, February 5th. Finally, William Blair began coverage on shares of Silicon Motion Technology in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Reinhart Partners LLC. grew its position in shares of Silicon Motion Technology by 4.8% in the fourth quarter. Reinhart Partners LLC. now owns 1,573,355 shares of the semiconductor producer’s stock valued at $145,851,000 after purchasing an additional 72,421 shares in the last quarter. Pertento Partners LLP boosted its stake in Silicon Motion Technology by 2.5% during the third quarter. Pertento Partners LLP now owns 1,290,409 shares of the semiconductor producer’s stock worth $122,344,000 after buying an additional 31,405 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Silicon Motion Technology by 115.4% during the second 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. Hawk Ridge Capital Management LP grew its holdings in Silicon Motion Technology by 111.3% in the 4th quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer’s stock valued at $73,024,000 after buying an additional 415,000 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Silicon Motion Technology by 2.3% in the 3rd quarter. Lazard Asset Management LLC now owns 783,663 shares of the semiconductor producer’s stock worth $74,299,000 after acquiring an additional 17,741 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Performance

NASDAQ:SIMO opened at $113.90 on Monday. Silicon Motion Technology has a 12 month low of $37.21 and a 12 month high of $146.85. The stock has a 50 day moving average of $124.42 and a two-hundred day moving average of $105.44. The firm has a market cap of $3.87 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.09.

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.