Silicon Motion Technology Co. (NASDAQ:SIMO) Given Consensus Rating of “Buy” by Analysts

Shares of Silicon Motion Technology Co. (NASDAQ:SIMO) have received a consensus rating of “Buy” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $51.82.

Several research analysts recently commented on SIMO shares. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, October 7th. Zacks Investment Research raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Friday, November 27th. Wedbush raised shares of Silicon Motion Technology from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $42.00 to $46.00 in a research note on Thursday, September 24th. BidaskClub raised shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, December 8th. Finally, ValuEngine raised shares of Silicon Motion Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 7th.

A number of hedge funds have recently modified their holdings of the stock. Sei Investments Co. increased its holdings in Silicon Motion Technology by 5.1% during the third quarter. Sei Investments Co. now owns 89,100 shares of the semiconductor producer’s stock valued at $3,378,000 after buying an additional 4,352 shares during the period. Brinker Capital Investments LLC purchased a new position in Silicon Motion Technology during the third quarter valued at approximately $993,000. Schonfeld Strategic Advisors LLC purchased a new position in Silicon Motion Technology during the third quarter valued at approximately $314,000. Great West Life Assurance Co. Can increased its holdings in Silicon Motion Technology by 28.9% during the third quarter. Great West Life Assurance Co. Can now owns 71,223 shares of the semiconductor producer’s stock valued at $2,690,000 after buying an additional 15,978 shares during the period. Finally, Nokomis Capital L.L.C. increased its holdings in Silicon Motion Technology by 253.3% during the third quarter. Nokomis Capital L.L.C. now owns 95,074 shares of the semiconductor producer’s stock valued at $3,592,000 after buying an additional 68,165 shares during the period. 69.75% of the stock is currently owned by institutional investors.

SIMO opened at $48.15 on Friday. The firm has a market cap of $1.76 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.02 and a beta of 1.13. Silicon Motion Technology has a 12 month low of $26.72 and a 12 month high of $53.04. The stock has a 50-day moving average of $42.32 and a 200 day moving average of $40.99.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Saturday, November 7th. The semiconductor producer reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.09. The company had revenue of $126.04 million during the quarter, compared to analyst estimates of $120.67 million. Silicon Motion Technology had a return on equity of 14.91% and a net margin of 15.71%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Analysts predict that Silicon Motion Technology will post 2.54 earnings per share for the current year.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers solid-state drive (SSDs) used in PCs and other devices, as well as embedded multimediacard (eMMC) and UFS mobile embedded storage used in smartphones.

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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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