Silicon Motion Technology Corp. (NASDAQ:SIMO)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $34.17 and last traded at $33.72, with a volume of 2001 shares. The stock had previously closed at $35.04.

A number of equities analysts have issued reports on the stock. Cowen raised shares of Silicon Motion Technology from a “market perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a report on Wednesday, August 15th. Roth Capital lifted their price objective on shares of Silicon Motion Technology to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Silicon Motion Technology in a report on Thursday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, August 1st. Finally, KeyCorp assumed coverage on shares of Silicon Motion Technology in a report on Tuesday, September 25th. They set a “sector weight” rating and a $60.00 price objective on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.31.

The company has a market capitalization of $1.27 billion, a P/E ratio of 16.11 and a beta of 0.95.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, October 30th. The semiconductor producer reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.07. The company had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $137.36 million. Silicon Motion Technology had a return on equity of 17.92% and a net margin of 17.10%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. Sell-side analysts expect that Silicon Motion Technology Corp. will post 2.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Thursday, November 8th. Silicon Motion Technology’s payout ratio is 56.94%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIMO. Point72 Asset Management L.P. raised its stake in Silicon Motion Technology by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 69,614 shares of the semiconductor producer’s stock valued at $3,682,000 after acquiring an additional 43,812 shares during the period. Investec Asset Management LTD raised its stake in Silicon Motion Technology by 0.6% in the 2nd quarter. Investec Asset Management LTD now owns 445,556 shares of the semiconductor producer’s stock valued at $23,565,000 after acquiring an additional 2,781 shares during the period. United Services Automobile Association raised its stake in Silicon Motion Technology by 22.7% in the 2nd quarter. United Services Automobile Association now owns 225,595 shares of the semiconductor producer’s stock valued at $11,932,000 after acquiring an additional 41,700 shares during the period. OppenheimerFunds Inc. bought a new stake in Silicon Motion Technology in the 2nd quarter valued at about $396,000. Finally, Morse Asset Management Inc raised its stake in Silicon Motion Technology by 68.3% in the 2nd quarter. Morse Asset Management Inc now owns 19,605 shares of the semiconductor producer’s stock valued at $1,037,000 after acquiring an additional 7,955 shares during the period. Institutional investors own 74.00% of the company’s stock.

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Silicon Motion Technology Company Profile (NASDAQ:SIMO)

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.

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