Silicon Motion Technology (SIMO) Given a $46.00 Price Target by Lake Street Capital Analysts

Silicon Motion Technology (NASDAQ:SIMO) received a $46.00 target price from investment analysts at Lake Street Capital in a note issued to investors on Thursday. The firm currently has a “buy” rating on the semiconductor producer’s stock. Lake Street Capital’s price objective would suggest a potential upside of 22.37% from the stock’s previous close.

Several other analysts have also recently weighed in on SIMO. ValuEngine cut shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. Craig Hallum reduced their price objective on shares of Silicon Motion Technology from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Cowen reduced their price objective on shares of Silicon Motion Technology from $67.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday. BidaskClub cut shares of Silicon Motion Technology from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Silicon Motion Technology in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Silicon Motion Technology presently has an average rating of “Hold” and a consensus target price of $57.21.

Shares of Silicon Motion Technology stock opened at $37.59 on Thursday. Silicon Motion Technology has a twelve month low of $35.25 and a twelve month high of $61.85. The firm has a market capitalization of $1.39 billion, a P/E ratio of 17.99 and a beta of 0.42.



Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Tuesday, October 30th. The semiconductor producer reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.07. Silicon Motion Technology had a net margin of 17.10% and a return on equity of 18.45%. The company had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $137.36 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Silicon Motion Technology’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts forecast that Silicon Motion Technology will post 3.12 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its holdings in shares of Silicon Motion Technology by 0.6% during the second quarter. Baird Financial Group Inc. now owns 149,544 shares of the semiconductor producer’s stock valued at $7,909,000 after purchasing an additional 924 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Silicon Motion Technology by 4.7% during the second quarter. Janney Montgomery Scott LLC now owns 28,690 shares of the semiconductor producer’s stock valued at $1,517,000 after purchasing an additional 1,275 shares during the period. BancorpSouth Bank raised its holdings in shares of Silicon Motion Technology by 12.4% during the second quarter. BancorpSouth Bank now owns 14,870 shares of the semiconductor producer’s stock valued at $786,000 after purchasing an additional 1,637 shares during the period. Investec Asset Management LTD raised its holdings in shares of Silicon Motion Technology by 0.6% during the second quarter. Investec Asset Management LTD now owns 445,556 shares of the semiconductor producer’s stock valued at $23,565,000 after purchasing an additional 2,781 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Silicon Motion Technology by 10.4% during the second quarter. Advisors Asset Management Inc. now owns 31,983 shares of the semiconductor producer’s stock valued at $1,692,000 after purchasing an additional 3,004 shares during the period. Institutional investors and hedge funds own 74.95% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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