Silicon Motion Technology (NASDAQ:SIMO) PT Raised to $112.00 at B. Riley

Silicon Motion Technology (NASDAQ:SIMO) had its price target hoisted by stock analysts at B. Riley from $109.00 to $112.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor producer’s stock. B. Riley’s target price would indicate a potential upside of 40.40% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SIMO. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Craig Hallum lifted their price objective on Silicon Motion Technology from $80.00 to $96.00 and gave the company a “buy” rating in a report on Monday, May 6th. Susquehanna upped their target price on shares of Silicon Motion Technology from $100.00 to $110.00 and gave the stock a “positive” rating in a report on Monday, May 6th. Morgan Stanley raised shares of Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $88.00 in a report on Monday, May 6th. Finally, Needham & Company LLC raised their price objective on shares of Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a report on Monday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $93.13.

Silicon Motion Technology Trading Down 4.8 %

Shares of NASDAQ:SIMO opened at $79.77 on Monday. The business’s 50 day moving average is $79.44 and its 200-day moving average is $73.07. The firm has a market capitalization of $2.69 billion, a PE ratio of 45.32, a PEG ratio of 0.77 and a beta of 0.86. Silicon Motion Technology has a 1-year low of $49.50 and a 1-year high of $95.33.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $189.31 million for the quarter, compared to analyst estimates of $180.23 million. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.78%. On average, sell-side analysts predict that Silicon Motion Technology will post 2.81 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in shares of Silicon Motion Technology by 273.6% during the second quarter. Harbor Capital Advisors Inc. now owns 65,566 shares of the semiconductor producer’s stock valued at $5,310,000 after acquiring an additional 48,015 shares during the period. Farallon Capital Management LLC boosted its stake in Silicon Motion Technology by 247.0% in the first quarter. Farallon Capital Management LLC now owns 855,449 shares of the semiconductor producer’s stock valued at $65,818,000 after acquiring an additional 608,949 shares during the last quarter. LRI Investments LLC acquired a new stake in Silicon Motion Technology during the 1st quarter worth $150,000. Kennedy Capital Management LLC lifted its stake in shares of Silicon Motion Technology by 71.9% in the 1st quarter. Kennedy Capital Management LLC now owns 220,906 shares of the semiconductor producer’s stock valued at $16,997,000 after purchasing an additional 92,386 shares during the period. Finally, Silvercrest Asset Management Group LLC bought a new position in shares of Silicon Motion Technology in the 1st quarter worth $8,191,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

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. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.