ValuEngine lowered shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) from a buy rating to a hold rating in a report published on Wednesday.

Other equities analysts also recently issued reports about the company. Needham & Company LLC restated a buy rating and issued a $54.00 price objective on shares of Silicon Motion Technology Corporation in a research report on Friday, September 22nd. Standpoint Research upgraded Silicon Motion Technology Corporation from a reduce rating to a buy rating in a research report on Wednesday, August 30th. Loop Capital restated a buy rating and issued a $51.00 price objective on shares of Silicon Motion Technology Corporation in a research report on Tuesday, August 22nd. Lake Street Capital restated a buy rating and issued a $50.00 price objective (down from $56.00) on shares of Silicon Motion Technology Corporation in a research report on Tuesday, August 8th. Finally, B. Riley restated a buy rating and issued a $68.75 price objective on shares of Silicon Motion Technology Corporation in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $57.67.

Silicon Motion Technology Corporation (NASDAQ:SIMO) traded up $0.39 during trading hours on Wednesday, reaching $47.84. The company’s stock had a trading volume of 377,599 shares, compared to its average volume of 539,608. Silicon Motion Technology Corporation has a twelve month low of $37.37 and a twelve month high of $55.68. The company has a market capitalization of $1,690.00, a price-to-earnings ratio of 17.88 and a beta of 0.65.

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

COPYRIGHT VIOLATION WARNING: This piece of content was published by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/11/18/silicon-motion-technology-corporation-simo-cut-to-hold-at-valuengine.html.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 9th will be given a $0.30 dividend. This is an increase from Silicon Motion Technology Corporation’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Wednesday, November 8th. Silicon Motion Technology Corporation’s payout ratio is currently 34.77%.

Silicon Motion Technology Corporation announced that its board has approved a share repurchase program on Monday, July 31st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the semiconductor producer to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Several large investors have recently bought and sold shares of the stock. ARGA Investment Management LP lifted its position in shares of Silicon Motion Technology Corporation by 6.2% in the third quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock worth $88,365,000 after buying an additional 106,900 shares in the last quarter. Investec Asset Management LTD lifted its position in shares of Silicon Motion Technology Corporation by 46.4% in the second quarter. Investec Asset Management LTD now owns 1,638,818 shares of the semiconductor producer’s stock worth $79,040,000 after buying an additional 519,631 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Silicon Motion Technology Corporation by 170.4% in the second quarter. William Blair Investment Management LLC now owns 947,862 shares of the semiconductor producer’s stock worth $45,715,000 after buying an additional 597,352 shares in the last quarter. Royce & Associates LP lifted its position in shares of Silicon Motion Technology Corporation by 78.0% in the third quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock worth $38,498,000 after buying an additional 351,140 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Silicon Motion Technology Corporation by 27.9% in the second quarter. Teachers Advisors LLC now owns 787,674 shares of the semiconductor producer’s stock worth $37,990,000 after buying an additional 171,989 shares in the last quarter. Institutional investors own 79.52% of the company’s stock.

About Silicon Motion Technology Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Silicon Motion Technology Corporation (NASDAQ:SIMO)

Receive News & Ratings for Silicon Motion Technology Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology Corporation and related companies with MarketBeat.com's FREE daily email newsletter.