BidaskClub upgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a sell rating to a hold rating in a research note issued to investors on Wednesday, BidAskClub reports.
Several other analysts have also recently commented on SIMO. Needham & Company LLC decreased their price objective on shares of Silicon Motion Technology from $62.00 to $55.00 and set a buy rating for the company in a research note on Thursday, July 30th. ValuEngine cut shares of Silicon Motion Technology from a hold rating to a sell rating in a research note on Friday, July 17th. Royal Bank of Canada restated a hold rating and set a $45.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, July 30th. Zacks Investment Research cut shares of Silicon Motion Technology from a hold rating to a sell rating and set a $47.00 price objective for the company. in a research note on Tuesday, July 21st. Finally, Cowen lifted their price objective on shares of Silicon Motion Technology from $54.00 to $60.00 and gave the company an outperform rating in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $52.36.
SIMO stock opened at $37.78 on Wednesday. The firm has a 50 day moving average of $37.80 and a 200 day moving average of $41.29. The stock has a market capitalization of $1.38 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. Silicon Motion Technology has a 52 week low of $26.72 and a 52 week high of $53.04.
Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Wednesday, July 29th. The semiconductor producer reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Silicon Motion Technology had a net margin of 15.71% and a return on equity of 14.91%. The company had revenue of $136.80 million during the quarter, compared to analysts’ expectations of $134.17 million. During the same period last year, the business earned $0.52 EPS. Silicon Motion Technology’s revenue for the quarter was up 38.5% on a year-over-year basis. Sell-side analysts anticipate that Silicon Motion Technology will post 2.52 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors purchased a new stake in Silicon Motion Technology in the 2nd quarter worth $29,000. Quantum Capital Management purchased a new stake in Silicon Motion Technology in the 1st quarter worth $100,000. Optimum Investment Advisors purchased a new stake in Silicon Motion Technology in the 2nd quarter worth $156,000. Bank of Montreal Can increased its holdings in Silicon Motion Technology by 259.6% in the 2nd quarter. Bank of Montreal Can now owns 3,301 shares of the semiconductor producer’s stock worth $145,000 after acquiring an additional 2,383 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Silicon Motion Technology by 50,614.3% in the 1st quarter. Deutsche Bank AG now owns 3,550 shares of the semiconductor producer’s stock worth $130,000 after acquiring an additional 3,543 shares in the last quarter. 69.75% of the stock is owned by institutional investors.
About Silicon Motion Technology
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.
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