Silicon Motion Technology Co. (NASDAQ:SIMO) Receives Average Recommendation of “Moderate Buy” from Analysts

Silicon Motion Technology Co. (NASDAQ:SIMO) has earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $81.67.

A number of equities analysts have recently commented on SIMO shares. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Wednesday. Susquehanna lowered their price objective 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. Craig Hallum decreased their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Silicon Motion Technology in a report on Monday, December 23rd. Finally, Roth Mkm dropped their target price on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th.

Silicon Motion Technology Trading Up 4.9 %

SIMO opened at $54.47 on Wednesday. The stock has a 50-day moving average of $54.48 and a 200 day moving average of $57.65. Silicon Motion Technology has a 12 month low of $48.81 and a 12 month high of $85.87. The firm has a market cap of $1.83 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.30 and a beta of 0.79.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 75.38%.

Institutional Trading of Silicon Motion Technology

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in shares of Silicon Motion Technology by 8.7% during the fourth quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer’s stock worth $306,000 after purchasing an additional 453 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Silicon Motion Technology by 204.6% in the 4th quarter. Van ECK Associates Corp now owns 8,271 shares of the semiconductor producer’s stock worth $447,000 after acquiring an additional 5,556 shares during the period. Choreo LLC purchased a new stake in shares of Silicon Motion Technology in the fourth quarter valued at about $209,000. Deltec Asset Management LLC acquired a new position in shares of Silicon Motion Technology during the fourth quarter worth about $408,000. Finally, Calamos Advisors LLC purchased a new position in Silicon Motion Technology during the fourth quarter worth about $3,707,000. 78.02% of the stock is owned by institutional investors and hedge funds.

About Silicon Motion Technology

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.