Susquehanna Bancshares Reaffirms “Hold” Rating for Silicon Motion Technology (NASDAQ:SIMO)

Susquehanna Bancshares reiterated their hold rating on shares of Silicon Motion Technology (NASDAQ:SIMO) in a report published on Thursday, TipRanks reports. They currently have a $45.00 target price on the semiconductor producer’s stock.

Several other research firms have also recently commented on SIMO. Craig Hallum restated a buy rating and set a $55.00 price target (up from $50.00) on shares of Silicon Motion Technology in a report on Wednesday, April 29th. Zacks Investment Research downgraded Silicon Motion Technology from a hold rating to a sell rating and set a $47.00 price target for the company. in a research note on Tuesday, July 21st. Royal Bank of Canada restated a hold rating and issued a $45.00 price objective on shares of Silicon Motion Technology in a report on Thursday. Cowen lifted 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. Finally, Needham & Company LLC cut their price target on shares of Silicon Motion Technology from $62.00 to $55.00 and set a buy rating on the stock in a report on Thursday. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $52.25.

Shares of NASDAQ SIMO opened at $41.37 on Thursday. Silicon Motion Technology has a one year low of $26.72 and a one year high of $53.04. The business has a 50-day moving average price of $44.50 and a two-hundred day moving average price of $43.50. The firm has a market capitalization of $1.51 billion, a PE ratio of 17.31, a PEG ratio of 2.07 and a beta of 1.25.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, July 29th. The semiconductor producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Silicon Motion Technology had a net margin of 15.71% and a return on equity of 15.19%. The business had revenue of $136.80 million during the quarter, compared to analyst estimates of $134.17 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm’s revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts forecast that Silicon Motion Technology will post 2.81 EPS for the current fiscal year.

The company also recently disclosed 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 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 large investors have recently bought and sold shares of the company. Morgan Stanley lifted its position in Silicon Motion Technology by 1,318.9% during the 1st quarter. Morgan Stanley now owns 438,290 shares of the semiconductor producer’s stock worth $16,068,000 after buying an additional 407,400 shares in the last quarter. ARGA Investment Management LP grew its stake in shares of Silicon Motion Technology by 27.9% during the first quarter. ARGA Investment Management LP now owns 1,587,913 shares of the semiconductor producer’s stock valued at $58,213,000 after purchasing an additional 345,960 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Silicon Motion Technology during the first quarter valued at approximately $4,298,000. Tygh Capital Management Inc. acquired a new stake in shares of Silicon Motion Technology in the first quarter valued at approximately $3,577,000. Finally, Two Sigma Advisers LP raised its position in Silicon Motion Technology by 78.2% in the 1st quarter. Two Sigma Advisers LP now owns 210,846 shares of the semiconductor producer’s stock worth $7,730,000 after purchasing an additional 92,500 shares during the last quarter. Institutional investors own 70.17% 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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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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