Silicon Motion Technology Co. (NASDAQ:SIMO – Get Free Report)’s stock price hit a new 52-week low during trading on Thursday after Craig Hallum lowered their price target on the stock from $96.00 to $90.00. Craig Hallum currently has a buy rating on the stock. Silicon Motion Technology traded as low as $52.65 and last traded at $52.65, with a volume of 286762 shares traded. The stock had previously closed at $56.01.
A number of other brokerages have also recently weighed in on SIMO. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Bank of America cut shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $90.00 to $60.00 in a research note on Friday, August 16th. B. Riley dropped their price objective on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Morgan Stanley decreased their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Roth Mkm dropped their price target 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. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.44.
View Our Latest Stock Report on Silicon Motion Technology
Institutional Trading of Silicon Motion Technology
Silicon Motion Technology Stock Performance
The stock has a market capitalization of $1.78 billion, a PE ratio of 22.94, a P/E/G ratio of 0.88 and a beta of 0.83. The company’s fifty day simple moving average is $58.81 and its two-hundred day simple moving average is $69.46.
Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $210.67 million during the quarter, compared to the consensus estimate of $206.75 million. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. Sell-side analysts forecast that Silicon Motion Technology Co. will post 2.86 EPS for the current fiscal year.
Silicon Motion Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a $0.50 dividend. The ex-dividend date is Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.78%. Silicon Motion Technology’s dividend payout ratio is currently 85.04%.
Silicon Motion Technology Company Profile
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.
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