Silicon Motion Technology (SIMO) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a hold rating to a buy rating in a research report released on Tuesday morning, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. B. Riley lifted their price objective on Silicon Motion Technology from $52.00 to $55.00 and gave the company a buy rating in a report on Monday, May 6th. Craig Hallum reaffirmed a buy rating and set a $52.00 price objective (down from $55.00) on shares of Silicon Motion Technology in a report on Monday, January 28th. Bank of America raised Silicon Motion Technology from an underperform rating to a buy rating and set a $45.00 price objective on the stock in a report on Friday, January 18th. Needham & Company LLC reaffirmed a buy rating and set a $50.00 price objective (down from $58.00) on shares of Silicon Motion Technology in a report on Thursday, January 17th. Finally, ValuEngine raised Silicon Motion Technology from a sell rating to a hold rating in a report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $50.95.

NASDAQ SIMO opened at $41.10 on Tuesday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 3.82 and a beta of 1.03. Silicon Motion Technology has a 1-year low of $31.73 and a 1-year high of $61.85.



Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor producer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $94.69 million for the quarter, compared to the consensus estimate of $93.23 million. Silicon Motion Technology had a return on equity of 19.02% and a net margin of 17.28%. The company’s quarterly revenue was down 27.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. Equities research analysts predict that Silicon Motion Technology will post 2.12 EPS for the current fiscal year.

The firm also recently announced a dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be issued a $0.298 dividend. This is an increase from Silicon Motion Technology’s previous dividend of $0.20. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology’s payout ratio is presently 34.90%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Silicon Motion Technology by 4.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,761 shares of the semiconductor producer’s stock worth $268,000 after acquiring an additional 308 shares in the last quarter. BancorpSouth Bank raised its position in shares of Silicon Motion Technology by 2.3% during the 1st quarter. BancorpSouth Bank now owns 14,683 shares of the semiconductor producer’s stock valued at $582,000 after acquiring an additional 326 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of Silicon Motion Technology by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,320 shares of the semiconductor producer’s stock valued at $52,000 after buying an additional 440 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Silicon Motion Technology by 201.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 923 shares of the semiconductor producer’s stock valued at $37,000 after buying an additional 617 shares in the last quarter. Finally, Private Capital Group LLC increased its holdings in Silicon Motion Technology by 63.5% during the 1st quarter. Private Capital Group LLC now owns 1,630 shares of the semiconductor producer’s stock worth $65,000 after purchasing an additional 633 shares in the last quarter. 72.33% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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