Investment Analysts’ Recent Ratings Updates for Silicon Motion Technology Corporation (SIMO)

Silicon Motion Technology Corporation (NASDAQ: SIMO) recently received a number of ratings updates from brokerages and research firms:

  • 10/29/2017 – Silicon Motion Technology Corporation had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $60.00 price target on the stock.
  • 10/27/2017 – Silicon Motion Technology Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $57.00 price target on the stock. They wrote, “While SIMO came roughly in-line this quarter, the 4Q17 guide was light. We continue to believe that SIMO’s SSD business is set for a rebound in 4Q17 and throughout 2018 but note that the current high NAND pricing environment could slow its Client SSD ramp as the business is sensitive to NAND prices. Despite the short term headwinds we see a number of drivers in 4Q17 and beyond: market leader in Client SSDs – we expect growth of ~38% Y/Y in 2018 as next gen 3D NAND come online and PCIe NVMe opening up new opportunities, still early in the HDD-> SSD transition, and strong/stable relations with SK Hynix means low risk towards ~30% total market share in eMMC.””
  • 10/25/2017 – Silicon Motion Technology Corporation was given a new $69.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock. They wrote, “We nudge our estimates higher to better align with the company’s strong preliminary results relative to guidance. As such, we increase projected Q3 revenue and EPS from $125.5MM/$0.57 to $126.4MM/$0.58, and with some revenue and earnings follow through into Q4 and FY ‘18e and ‘19e as well.””
  • 10/24/2017 – Silicon Motion Technology Corporation had its price target raised by analysts at Roth Capital from $55.00 to $60.00. They now have a “buy” rating on the stock.
  • 10/9/2017 – Silicon Motion Technology Corporation had its price target raised by analysts at Loop Capital from $51.00 to $59.00. They now have a “buy” rating on the stock.
  • 10/9/2017 – Silicon Motion Technology Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $57.00 price target on the stock, up previously from $54.00.
  • 10/3/2017 – Silicon Motion Technology Corporation was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Silicon Motion is gaining from strategic product launches. Additionally, continuing investments on product development will drive growth. Moreover, expanding product portfolio and strong commitment toward R&D activities are key catalysts. However, the company continues to get affected by the NAND supply constraint. The company has noted that NAND supply continues to remain tight, which affected module maker customers, hyperscale customers, and NAND flash partners in the last reported quarter. We note that the stock has underperformed the broader industry on a year-to-date basis.”
  • 9/22/2017 – Silicon Motion Technology Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $54.00 price target on the stock.

Silicon Motion Technology Corporation (SIMO) traded up $0.01 on Monday, reaching $47.17. 231,800 shares of the company traded hands, compared to its average volume of 618,091. The firm has a market capitalization of $1,680.00, a PE ratio of 17.93 and a beta of 0.65. Silicon Motion Technology Corporation has a 1 year low of $37.37 and a 1 year high of $55.68.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $127.24 million. Silicon Motion Technology Corporation had a net margin of 17.18% and a return on equity of 19.58%. The firm’s quarterly revenue was down 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. sell-side analysts expect that Silicon Motion Technology Corporation will post 2.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Silicon Motion Technology Corporation’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, November 8th. Silicon Motion Technology Corporation’s dividend payout ratio is 34.77%.

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

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