Silicon Motion Technology (NASDAQ:SIMO) Stock Price Up 5% – What’s Next?

Silicon Motion Technology Co. (NASDAQ:SIMO) shares traded up 5% during trading on Friday . The company traded as high as $59.45 and last traded at $59.09. 153,812 shares were traded during trading, a decline of 58% from the average session volume of 370,254 shares. The stock had previously closed at $56.27.

Wall Street Analyst Weigh In

SIMO has been the topic of a number of recent analyst reports. StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. Needham & Company LLC decreased their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Morgan Stanley dropped their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Susquehanna reduced their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Silicon Motion Technology currently has an average rating of “Moderate Buy” and an average target price of $81.67.

Silicon Motion Technology Stock Performance

The company has a market capitalization of $2.00 billion, a PE ratio of 22.47, a PEG ratio of 1.53 and a beta of 0.82. The stock’s 50 day moving average is $55.57 and its 200 day moving average is $64.71.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities research analysts forecast that Silicon Motion Technology Co. will post 2.59 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio is presently 75.38%.

Institutional Investors Weigh In On Silicon Motion Technology

Large investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC lifted its position in Silicon Motion Technology by 21.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock valued at $67,051,000 after purchasing an additional 196,609 shares during the last quarter. 272 Capital LP lifted its holdings in shares of Silicon Motion Technology by 55.3% during the 3rd quarter. 272 Capital LP now owns 101,391 shares of the semiconductor producer’s stock worth $6,158,000 after acquiring an additional 36,092 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Silicon Motion Technology during the 3rd quarter worth $13,211,000. Geode Capital Management LLC grew its position in Silicon Motion Technology by 0.7% in the third quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer’s stock worth $2,183,000 after acquiring an additional 253 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Silicon Motion Technology in the third quarter valued at $5,904,000. Institutional investors 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.