Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 694,400 shares, an increase of 30.7% from the August 15th total of 531,400 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily volume of 374,500 shares, the short-interest ratio is presently 1.9 days.

Silicon Motion Technology Stock Down 1.8 %

NASDAQ SIMO traded down $1.30 on Thursday, reaching $70.56. The stock had a trading volume of 251,726 shares, compared to its average volume of 586,707. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.15 and a beta of 0.99. Silicon Motion Technology has a 12-month low of $64.41 and a 12-month high of $98.65. The stock has a fifty day moving average price of $80.10 and a two-hundred day moving average price of $80.28.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Wednesday, August 10th. Silicon Motion Technology's payout ratio is 30.80%.

Institutional Trading of Silicon Motion Technology

Analysts Set New Price Targets

Several research analysts have recently weighed in on SIMO shares. Wedbush lowered their target price on Silicon Motion Technology from $115.00 to $110.00 in a report on Thursday, July 28th. B. Riley lowered their target price on Silicon Motion Technology from $114.00 to $107.00 in a report on Monday, August 1st. Finally, StockNews.com upgraded Silicon Motion Technology from a "hold" rating to a "buy" rating in a report on Monday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $106.17.

About Silicon Motion Technology

(Get Rating)

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It 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.

Read More

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