Silicon Motion Technology (SIMO) Raised to “Buy” at ValuEngine
Silicon Motion Technology (NASDAQ:SIMO) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.
Several other research analysts also recently weighed in on SIMO. B. Riley reissued a “buy” rating and issued a $68.75 target price on shares of Silicon Motion Technology in a research note on Monday, August 7th. Lake Street Capital reissued a “buy” rating and issued a $50.00 target price (down previously from $56.00) on shares of Silicon Motion Technology in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of Silicon Motion Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Loop Capital reissued a “buy” rating and issued a $51.00 target price on shares of Silicon Motion Technology in a research note on Tuesday, August 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $57.00 target price (up previously from $54.00) on shares of Silicon Motion Technology in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $57.67.
Silicon Motion Technology (NASDAQ SIMO) opened at $51.57 on Friday. Silicon Motion Technology has a one year low of $37.37 and a one year high of $55.68. The firm has a market cap of $1,820.00, a PE ratio of 18.82 and a beta of 0.65.
Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $127.24 million. During the same quarter in the previous year, the company posted $1.07 EPS. The firm’s revenue for the quarter was down 19.8% on a year-over-year basis. research analysts anticipate that Silicon Motion Technology will post 2.46 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Daiwa Securities Group Inc. purchased a new stake in Silicon Motion Technology in the 3rd quarter valued at about $101,000. Advisors Preferred LLC grew its holdings in Silicon Motion Technology by 451.0% in the 3rd quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after buying an additional 2,183 shares during the period. Seven Eight Capital LP purchased a new stake in Silicon Motion Technology in the 2nd quarter valued at about $135,000. Summit Securities Group LLC purchased a new stake in shares of Silicon Motion Technology during the 2nd quarter worth about $204,000. Finally, Hikari Power Ltd purchased a new stake in shares of Silicon Motion Technology during the 2nd quarter worth about $204,000. Institutional investors own 82.84% of the company’s stock.
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Silicon Motion Technology Company Profile
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.
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