Susquehanna Raises Silicon Motion Technology (NASDAQ:SIMO) Price Target to $110.00

Silicon Motion Technology (NASDAQ:SIMO) had its price target increased by equities research analysts at Susquehanna from $100.00 to $110.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor producer’s stock. Susquehanna’s target price suggests a potential upside of 48.73% from the stock’s current price.

SIMO has been the subject of a number of other research reports. Craig Hallum lifted their target price on shares of Silicon Motion Technology from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Monday. Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Silicon Motion Technology from $77.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. B. Riley increased their target price on Silicon Motion Technology from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley raised Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $59.00 to $88.00 in a report on Monday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $90.63.

Silicon Motion Technology Trading Up 0.8 %

SIMO opened at $73.96 on Monday. Silicon Motion Technology has a 1 year low of $49.50 and a 1 year high of $95.33. The stock has a fifty day moving average price of $74.63 and a 200 day moving average price of $65.79. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 3.98 and a beta of 0.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.12. Silicon Motion Technology had a return on equity of 7.77% and a net margin of 8.34%. The firm had revenue of $202.38 million for the quarter, compared to analyst estimates of $197.60 million. As a group, sell-side analysts forecast that Silicon Motion Technology will post 2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Lester Murray Antman dba SimplyRich purchased a new position in shares of Silicon Motion Technology in the first quarter valued at $220,000. Easterly Investment Partners LLC increased its position in shares of Silicon Motion Technology by 0.9% during the first quarter. Easterly Investment Partners LLC now owns 246,397 shares of the semiconductor producer’s stock valued at $18,958,000 after buying an additional 2,128 shares during the period. Chase Investment Counsel Corp bought a new position in shares of Silicon Motion Technology in the first quarter valued at approximately $2,303,000. Janney Montgomery Scott LLC grew its stake in Silicon Motion Technology by 14.4% during the first quarter. Janney Montgomery Scott LLC now owns 83,663 shares of the semiconductor producer’s stock valued at $6,437,000 after acquiring an additional 10,513 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Silicon Motion Technology by 69.7% in the 1st quarter. BNP Paribas Financial Markets now owns 8,400 shares of the semiconductor producer’s stock worth $646,000 after purchasing an additional 3,449 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

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.