Brokerages Set Silicon Motion Technology Corporation (NASDAQ:SIMO) PT at $132.50

Silicon Motion Technology Corporation (NASDAQ:SIMO) has earned a consensus recommendation of “Buy” from the twelve research firms that are covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $132.50.

Several research analysts have weighed in on SIMO shares. William Blair started coverage on shares of Silicon Motion Technology in a report on Thursday, January 22nd. They set an “outperform” rating for the company. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Wedbush increased their price target on shares of Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Roth Mkm set a $140.00 price target on Silicon Motion Technology and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Craig Hallum reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Motion Technology in a report on Thursday, February 5th.

Institutional Investors Weigh In On Silicon Motion Technology

A number of institutional investors have recently made changes to their positions in SIMO. Boston Partners boosted its holdings in Silicon Motion Technology by 33.2% in the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after purchasing an additional 183,458 shares during the period. XTX Topco Ltd acquired a new stake in shares of Silicon Motion Technology during the second quarter worth $1,780,000. Elevation Point Wealth Partners LLC bought a new position in shares of Silicon Motion Technology in the 2nd quarter worth about $263,000. SG Americas Securities LLC bought a new position in shares of Silicon Motion Technology in the 3rd quarter worth about $1,070,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Silicon Motion Technology in the 2nd quarter valued at about $288,000. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Trading Up 0.7%

SIMO stock opened at $123.64 on Thursday. Silicon Motion Technology has a twelve month low of $37.21 and a twelve month high of $146.85. The company has a market capitalization of $4.20 billion, a P/E ratio of 33.97, a PEG ratio of 0.82 and a beta of 1.02. The firm has a 50 day simple moving average of $121.62 and a 200-day simple moving average of $101.13.

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.