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.
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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
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Wednesday, August 10th. Silicon Motion Technology's payout ratio is 30.80%.
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
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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.
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