Silicon Motion Technology Co. (NASDAQ:SIMO) has been given a consensus recommendation of “Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $88.63.
Several brokerages have recently commented on SIMO. Cowen upped their price objective on shares of Silicon Motion Technology from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 2nd. Craig Hallum increased their price target on Silicon Motion Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, August 2nd. Morgan Stanley raised shares of Silicon Motion Technology from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $68.00 to $78.00 in a research report on Thursday, August 12th. Needham & Company LLC lifted their price target on Silicon Motion Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Finally, B. Riley lifted their target price on Silicon Motion Technology from $94.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd.
Institutional investors have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP raised its holdings in shares of Silicon Motion Technology by 1.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,478,232 shares of the semiconductor producer’s stock valued at $94,755,000 after buying an additional 26,139 shares during the period. Lazard Asset Management LLC increased its position in shares of Silicon Motion Technology by 4.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,403,979 shares of the semiconductor producer’s stock worth $89,994,000 after purchasing an additional 63,259 shares during the last quarter. Millennium Management LLC increased its position in shares of Silicon Motion Technology by 150.7% in the 2nd quarter. Millennium Management LLC now owns 1,313,142 shares of the semiconductor producer’s stock worth $84,172,000 after purchasing an additional 789,328 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Silicon Motion Technology by 512.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,154,766 shares of the semiconductor producer’s stock worth $74,021,000 after purchasing an additional 966,323 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Silicon Motion Technology by 33.7% in the 1st quarter. Acadian Asset Management LLC now owns 856,395 shares of the semiconductor producer’s stock worth $50,862,000 after purchasing an additional 216,091 shares during the last quarter. Institutional investors own 61.68% of the company’s stock.
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SIMO opened at $74.80 on Thursday. The firm has a market capitalization of $2.61 billion, a PE ratio of 23.82, a PEG ratio of 1.80 and a beta of 1.12. Silicon Motion Technology has a twelve month low of $35.16 and a twelve month high of $81.87. The firm’s 50-day moving average price is $69.26 and its 200 day moving average price is $66.03.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 5th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.87%. The ex-dividend date was Wednesday, August 4th. Silicon Motion Technology’s dividend payout ratio (DPR) is 60.96%.
About Silicon Motion Technology
Silicon Motion Technology Corp. engages in the development, manufacture and supply of semiconductor products for the electronics market. The firm products include Flash Controllers, Storage Solutions, and others. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.
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