Brokerages Set Silicon Motion Technology Corporation (NASDAQ:SIMO) Target Price at $132.50

Silicon Motion Technology Corporation (NASDAQ:SIMO) has been assigned a consensus rating of “Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $132.50.

Several research firms recently commented on SIMO. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Needham & Company LLC boosted their price target on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Roth Mkm set a $140.00 price objective on Silicon Motion Technology and gave the company a “buy” rating in a research note on Wednesday, February 4th. Finally, B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, February 5th.

Hedge Funds Weigh In On Silicon Motion Technology

Hedge funds have recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new position in Silicon Motion Technology during the 3rd quarter valued at approximately $26,000. WealthCollab LLC increased its stake in shares of Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after buying an additional 151 shares during the period. Arax Advisory Partners raised its holdings in shares of Silicon Motion Technology by 220.9% during the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after acquiring an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 366 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new position in Silicon Motion Technology in the 4th quarter worth $71,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Down 4.4%

Shares of SIMO stock opened at $118.35 on Thursday. The business has a 50-day moving average price of $119.71 and a two-hundred day moving average price of $100.13. Silicon Motion Technology has a 12-month low of $37.21 and a 12-month high of $146.85. The firm has a market cap of $4.02 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.