Several analysts have recently updated their ratings and price targets for Silicon Motion Technology (NASDAQ: SIMO):

  • 11/15/2018 – Silicon Motion Technology had its “sell” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “Silicon Motion’s third-quarter earnings topped Zacks Consensus Estimates. We believe improving supply of 64-layer 3D NAND is bringing down high NAND prices, which is eventually benefiting Silicon Motion. Additionally, as the company’s Open-Channel NVMe SSD controller enters into production, Client SSD Controller sales are anticipated to increase.  However, the company provided tepid fourth quarter guidance. The company also predicts lower than expected sales for full year 2018. Further, The company faces macroeconomic risks like political, economic and social instability along with certain industry-specific regulations in geographies where the company operates. Moreover, intensifying competition in the USB flash drive controller market remains a major concern. Going forward, dip in smartphones sales might prove to be a drag on revenues.”
  • 11/2/2018 – Silicon Motion Technology was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/1/2018 – Silicon Motion Technology had its price target lowered by analysts at B. Riley from $68.75 to $57.00. They now have a “buy” rating on the stock.
  • 11/1/2018 – Silicon Motion Technology was given a new $46.00 price target on by analysts at Lake Street Capital. They now have a “buy” rating on the stock.
  • 10/31/2018 – Silicon Motion Technology was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/31/2018 – Silicon Motion Technology had its price target lowered by analysts at Cowen Inc from $67.00 to $55.00. They now have an “outperform” rating on the stock.
  • 10/31/2018 – Silicon Motion Technology had its price target lowered by analysts at Craig Hallum from $60.00 to $55.00. They now have a “buy” rating on the stock.
  • 10/27/2018 – Silicon Motion Technology was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/11/2018 – Silicon Motion Technology was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/10/2018 – Silicon Motion Technology was given a new $63.00 price target on by analysts at JPMorgan Chase & Co.. They now have a “buy” rating on the stock.
  • 10/8/2018 – Silicon Motion Technology was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/8/2018 – Silicon Motion Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $57.00 price target on the stock. According to Zacks, “Silicon Motion is a leading developer of microcontroller ICs for NAND flash storage devices and specialty RF ICs for mobile devices. We believe improving supply of 64-layer 3D NAND is bringing down high NAND prices, which is eventually benefiting Silicon Motion. Additionally, as the company’s Open-Channel NVMe SSD controller enters into production, Client SSD Controller sales are anticipated to increase. Also, acquisitions have supplemented the company's growth initiatives. Rebuilt inventory from company’s NAND flash partners bolstered eMMC controller sales also remains a positive. However, the company faces macroeconomic risks in geographies where the company operates. Intensifying competition in the USB flash drive controller market also remains a major headwind. Notably, shares of the company have underperformed the industry in the past year.”
  • 9/25/2018 – Silicon Motion Technology is now covered by analysts at KeyCorp. They set a “sector weight” rating and a $60.00 price target on the stock.
  • 9/22/2018 – Silicon Motion Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/21/2018 – Silicon Motion Technology was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $59.00 price target on the stock.

NASDAQ SIMO traded down $0.06 during mid-day trading on Friday, hitting $35.20. The stock had a trading volume of 10,678 shares, compared to its average volume of 579,041. Silicon Motion Technology Corp. has a 52-week low of $34.25 and a 52-week high of $61.85. The company has a market capitalization of $1.27 billion, a P/E ratio of 16.84 and a beta of 0.95.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, October 30th. The semiconductor producer reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. Silicon Motion Technology had a return on equity of 17.92% and a net margin of 17.10%. The firm had revenue of $138.60 million during the quarter, compared to the consensus estimate of $137.36 million. During the same period last year, the business posted $0.57 EPS. Silicon Motion Technology’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Silicon Motion Technology Corp. will post 2.89 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, November 8th. Silicon Motion Technology’s payout ratio is currently 56.94%.

A number of large investors have recently made changes to their positions in SIMO. JPMorgan Chase & Co. grew its holdings in Silicon Motion Technology by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,206,624 shares of the semiconductor producer’s stock valued at $64,796,000 after buying an additional 247,658 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Silicon Motion Technology during the 2nd quarter valued at $12,508,000. Investec Asset Management PTY Ltd acquired a new stake in Silicon Motion Technology during the 2nd quarter valued at $9,341,000. Zweig DiMenna Associates LLC acquired a new stake in Silicon Motion Technology during the 3rd quarter valued at $5,773,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Silicon Motion Technology by 4.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,530,366 shares of the semiconductor producer’s stock valued at $135,881,000 after buying an additional 105,161 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

See Also: Hedge Funds – How They Work For Investors

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