Silicon Motion Technology’s (SIMO) Hold Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their hold rating on shares of Silicon Motion Technology (NASDAQ:SIMO) in a research note issued to investors on Thursday, AnalystRatings.com reports. Royal Bank of Canada currently has a $45.00 price target on the semiconductor producer’s stock.

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Silicon Motion Technology from a hold rating to a sell rating in a research note on Saturday, July 25th. ValuEngine lowered shares of Silicon Motion Technology from a hold rating to a sell rating in a research note on Friday, July 17th. Cowen raised their target price on shares of Silicon Motion Technology from $54.00 to $60.00 and gave the company an outperform rating in a research note on Monday, June 22nd. Susquehanna Bancshares reiterated a hold rating and set a $51.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 29th. Finally, Zacks Investment Research downgraded Silicon Motion Technology from a hold rating to a sell rating and set a $47.00 price target on the stock. in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Silicon Motion Technology presently has an average rating of Hold and an average price target of $52.25.

NASDAQ SIMO opened at $41.37 on Thursday. The stock has a 50-day moving average of $44.50 and a 200-day moving average of $43.50. Silicon Motion Technology has a 1-year low of $26.72 and a 1-year high of $53.04. The firm has a market cap of $1.51 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.07 and a beta of 1.25.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor producer reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.08. The business had revenue of $136.80 million during the quarter, compared to analysts’ expectations of $134.17 million. Silicon Motion Technology had a net margin of 15.71% and a return on equity of 15.19%. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. On average, sell-side analysts anticipate that Silicon Motion Technology will post 2.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $1.40 annualized dividend and a yield of 3.38%. Silicon Motion Technology’s dividend payout ratio is 76.37%.

Several institutional investors have recently bought and sold shares of SIMO. Morgan Stanley raised its stake in shares of Silicon Motion Technology by 1,318.9% in the first quarter. Morgan Stanley now owns 438,290 shares of the semiconductor producer’s stock worth $16,068,000 after purchasing an additional 407,400 shares during the last quarter. ARGA Investment Management LP increased its holdings in Silicon Motion Technology by 27.9% in the 1st quarter. ARGA Investment Management LP now owns 1,587,913 shares of the semiconductor producer’s stock worth $58,213,000 after buying an additional 345,960 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in Silicon Motion Technology in the 1st quarter worth about $4,298,000. Tygh Capital Management Inc. purchased a new position in Silicon Motion Technology in the 1st quarter worth about $3,577,000. Finally, Two Sigma Advisers LP lifted its stake in Silicon Motion Technology by 78.2% during the 1st quarter. Two Sigma Advisers LP now owns 210,846 shares of the semiconductor producer’s stock valued at $7,730,000 after acquiring an additional 92,500 shares during the period. 70.17% of the stock is 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.

Further Reading: Cost of Equity For A Business, Investors

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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