Silicon Motion Technology Corporation (NASDAQ:SIMO) Receives $111.25 Average Target Price from Analysts

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $111.25.

SIMO has been the topic of a number of recent research reports. B. Riley lifted their price objective on Silicon Motion Technology from $105.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. upped their price target on Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Silicon Motion Technology in a research note on Monday, December 15th. Roth Capital restated a “buy” rating and issued a $120.00 target price on shares of Silicon Motion Technology in a research note on Friday, October 31st. Finally, Wall Street Zen raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th.

Silicon Motion Technology Stock Performance

NASDAQ:SIMO opened at $89.55 on Friday. The company has a 50-day moving average of $91.26 and a 200-day moving average of $83.46. Silicon Motion Technology has a 52 week low of $37.21 and a 52 week high of $106.60. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 1.29 and a beta of 1.10.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 6th. Silicon Motion Technology’s payout ratio is presently 68.38%.

Hedge Funds Weigh In On Silicon Motion Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Frontier Capital Management Co. LLC grew its holdings in shares of Silicon Motion Technology by 115.4% during the second quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock worth $96,301,000 after purchasing an additional 686,261 shares during the last quarter. Ophir Asset Management Pty Ltd acquired a new position in shares of Silicon Motion Technology during the second quarter worth approximately $27,941,000. Boston Partners grew its stake in shares of Silicon Motion Technology by 33.2% during the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock valued at $55,294,000 after purchasing an additional 183,458 shares during the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of Silicon Motion Technology by 71.8% in the third quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock valued at $35,340,000 after purchasing an additional 155,817 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Silicon Motion Technology in the second quarter valued at approximately $10,990,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

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.