Silicon Motion Technology Corporation (NASDAQ:SIMO) Stock Has Average Target Price of $328.75

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $328.75.

A number of equities research analysts recently commented on SIMO shares. Craig Hallum reaffirmed a “buy” rating and issued a $325.00 price target on shares of Silicon Motion Technology in a report on Friday, July 31st. Weiss Ratings downgraded Silicon Motion Technology from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Roth Capital reissued a “buy” rating and issued a $350.00 price objective on shares of Silicon Motion Technology in a report on Thursday, July 30th. B. Riley Financial lowered their price objective on Silicon Motion Technology from $310.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. Finally, Susquehanna boosted their price objective on Silicon Motion Technology from $275.00 to $350.00 and gave the company a “positive” rating in a research note on Friday, July 31st.

Silicon Motion Technology Stock Performance

SIMO stock traded down $10.05 during midday trading on Tuesday, hitting $169.45. The company’s stock had a trading volume of 718,402 shares, compared to its average volume of 1,085,718. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 0.32 and a beta of 1.78. The company has a quick ratio of 3.65, a current ratio of 5.68 and a debt-to-equity ratio of 1.00. The stock’s 50-day moving average price is $234.74 and its 200 day moving average price is $216.66. Silicon Motion Technology has a 1 year low of $79.76 and a 1 year high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Wednesday, October 28th. The semiconductor producer reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $1.05. The company had revenue of $560.22 million for the quarter, compared to analysts’ expectations of $529.10 million. Silicon Motion Technology had a return on equity of 32.29% and a net margin of 19.36%. The business’s revenue for the quarter was up 131.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. On average, equities analysts forecast that Silicon Motion Technology will post 10.20 EPS for the current year.

Silicon Motion Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a $0.5750 dividend. The ex-dividend date is Thursday, November 5th. This represents a $2.30 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.50. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 24.68%.

Institutional Investors Weigh In On Silicon Motion Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aberdeen Group plc boosted its position in Silicon Motion Technology by 34,233.7% during the third quarter. Aberdeen Group plc now owns 489,599 shares of the semiconductor producer’s stock valued at $137,088,000 after buying an additional 488,173 shares during the period. Hawk Ridge Capital Management LP increased its holdings in shares of Silicon Motion Technology by 48.9% in the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock worth $131,752,000 after buying an additional 385,568 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Silicon Motion Technology by 112.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock worth $47,802,000 after buying an additional 225,221 shares during the period. Schwartz Investment Counsel Inc. lifted its stake in shares of Silicon Motion Technology by 48.6% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 401,300 shares of the semiconductor producer’s stock valued at $112,364,000 after acquiring an additional 131,300 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Silicon Motion Technology by 94.7% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,955 shares of the semiconductor producer’s stock valued at $54,027,000 after acquiring an additional 93,857 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and markets NAND flash controllers and related storage solutions. Its products help manage data storage and retrieval in devices that use NAND flash memory. The company’s offerings include controllers for solid-state drives (SSDs), embedded storage such as eMMC and UFS, and removable storage products including memory cards and USB flash drives. Silicon Motion also develops firmware and other technologies for storage applications.