StockNews.com upgraded shares of Silicon Motion Technology (NASDAQ:SIMO – Get Rating) from a hold rating to a buy rating in a report issued on Monday morning.

A number of other brokerages have also recently issued reports on SIMO. B. Riley cut their price objective on shares of Silicon Motion Technology from $114.00 to $107.00 in a research note on Monday, August 1st. Wedbush decreased their target price on shares of Silicon Motion Technology from $115.00 to $110.00 in a research note on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $106.17.

Silicon Motion Technology Stock Down 0.0 %

NASDAQ SIMO opened at $71.86 on Monday. The stock's 50-day simple moving average is $80.33 and its two-hundred day simple moving average is $80.29. Silicon Motion Technology has a twelve month low of $64.41 and a twelve month high of $98.65. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.18 and a beta of 0.99.

Silicon Motion Technology Announces Dividend

Institutional Investors Weigh In On Silicon Motion Technology

A number of institutional investors have recently modified their holdings of SIMO. Acadian Asset Management LLC grew its position in Silicon Motion Technology by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,496,316 shares of the semiconductor producer's stock valued at $99,946,000 after purchasing an additional 67,956 shares during the last quarter. Westchester Capital Management LLC purchased a new position in shares of Silicon Motion Technology during the second quarter valued at approximately $68,393,000. Baillie Gifford & Co. grew its position in Silicon Motion Technology by 8.1% in the 1st quarter. Baillie Gifford & Co. now owns 788,897 shares of the semiconductor producer's stock worth $52,713,000 after purchasing an additional 58,907 shares during the period. State Street Corp lifted its holdings in shares of Silicon Motion Technology by 2.0% during the 1st quarter. State Street Corp now owns 643,896 shares of the semiconductor producer's stock valued at $42,957,000 after buying an additional 12,508 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Silicon Motion Technology by 16.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 608,035 shares of the semiconductor producer's stock worth $40,629,000 after buying an additional 86,241 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Company Profile

(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.

Recommended Stories

• Get a free copy of the StockNews.com research report on Silicon Motion Technology (SIMO)
• Is This Medical Gear Maker Ready To Continue Its Rally?
• The Five (5) Hottest Stocks To Watch Ahead Of Q3 Earnings
• Has Take-Two Interactive Devolved into a One-Trick Pony?
• Is Lyft Going To Make It As Acquisition Rumors Swirl?
• Four Cheap Stocks With Interesting Insider Activity

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