Silicon Motion Technology Corp. (SIMO) Stock Price Up 3.8%
Silicon Motion Technology Corp. (NASDAQ:SIMO)’s share price rose 3.8% on Friday . The stock traded as high as $52.28 and last traded at $50.74, with a volume of 888,171 shares changing hands. The stock had previously closed at $48.87.
SIMO has been the subject of several research reports. B. Riley restated a “buy” rating and set a $66.50 price objective on shares of Silicon Motion Technology Corp. in a research report on Monday, July 25th. Nomura restated a “buy” rating and set a $62.00 price objective (up previously from $46.00) on shares of Silicon Motion Technology Corp. in a research report on Tuesday, July 12th. Brean Capital restated a “buy” rating and set a $60.00 price objective on shares of Silicon Motion Technology Corp. in a research report on Tuesday, July 26th. Needham & Company LLC restated a “buy” rating and set a $47.00 price objective on shares of Silicon Motion Technology Corp. in a research report on Wednesday, June 29th. Finally, Zacks Investment Research lowered shares of Silicon Motion Technology Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $50.96.
The company has a market capitalization of $1.79 billion and a price-to-earnings ratio of 22.55. The stock has a 50 day moving average price of $53.12 and a 200-day moving average price of $43.01.
Silicon Motion Technology Corp. (NASDAQ:SIMO) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.10. On average, equities research analysts anticipate that Silicon Motion Technology Corp. will post $3.26 EPS for the current fiscal year.
An institutional investor recently raised its position in Silicon Motion Technology Corp. stock. Principal Financial Group Inc. raised its position in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 398,067 shares of the company’s stock after buying an additional 2,473 shares during the period. Principal Financial Group Inc. owned about 1.14% of Silicon Motion Technology Corp. worth $12,483,000 as of its most recent SEC filing.
Silicon Motion Technology Corporation (SMTC) 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. For the mobile storage market, the Company’s products are microcontrollers used in solid state storage devices, such as Solid State Drives (SSDs), Embedded Multimedia Cards (eMMCs) and other embedded flash applications, as well as removable storage products.
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