Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) has earned an average recommendation of "Hold" from the eight research firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $109.00.
A number of research firms recently issued reports on SIMO. B. Riley lowered their price target on Silicon Motion Technology from $114.00 to $107.00 in a report on Monday, August 1st. StockNews.com raised Silicon Motion Technology from a "hold" rating to a "buy" rating in a report on Monday, September 12th. Finally, Wedbush lowered their price target on Silicon Motion Technology from $115.00 to $110.00 in a report on Thursday, July 28th.
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Institutional Investors Weigh In On Silicon Motion Technology
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mission Wealth Management LP lifted its position in shares of Silicon Motion Technology by 5.2% during the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the semiconductor producer's stock valued at $204,000 after acquiring an additional 150 shares during the period. Aigen Investment Management LP raised its position in shares of Silicon Motion Technology by 3.3% during the 1st quarter. Aigen Investment Management LP now owns 5,378 shares of the semiconductor producer's stock worth $359,000 after purchasing an additional 173 shares during the last quarter. Alta Advisers Ltd raised its position in shares of Silicon Motion Technology by 11.6% during the 2nd quarter. Alta Advisers Ltd now owns 2,009 shares of the semiconductor producer's stock worth $168,000 after purchasing an additional 209 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Silicon Motion Technology by 3.8% during the 4th quarter. Cetera Investment Advisers now owns 6,290 shares of the semiconductor producer's stock worth $598,000 after purchasing an additional 228 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in shares of Silicon Motion Technology by 127.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 454 shares of the semiconductor producer's stock worth $38,000 after purchasing an additional 254 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.
Silicon Motion Technology Stock Performance
Shares of SIMO stock opened at $69.96 on Monday. Silicon Motion Technology has a 1 year low of $64.41 and a 1 year high of $98.65. The stock's 50-day moving average is $79.85 and its two-hundred day moving average is $80.38. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.12 and a beta of 0.99.
Silicon Motion Technology Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.86%. Silicon Motion Technology's payout ratio is 30.80%.
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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