Silicon Motion Technology (SIMO) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a hold rating to a buy rating in a research note published on Sunday.

A number of other analysts also recently commented on the stock. KeyCorp boosted their price objective on shares of Silicon Motion Technology from $55.00 to $60.00 and gave the stock an overweight rating in a report on Thursday, December 14th. Summit Redstone upgraded shares of Silicon Motion Technology from a hold rating to a buy rating in a research report on Thursday, December 7th. BidaskClub upgraded shares of Silicon Motion Technology from a hold rating to a buy rating in a research report on Saturday, December 2nd. Northland Securities restated a buy rating and set a $60.00 target price on shares of Silicon Motion Technology in a research report on Sunday, October 29th. Finally, Needham & Company LLC restated a buy rating and set a $57.00 target price on shares of Silicon Motion Technology in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $57.85.

Silicon Motion Technology (NASDAQ:SIMO) traded down $0.13 during mid-day trading on Friday, reaching $52.96. 106,300 shares of the company were exchanged, compared to its average volume of 587,791. The stock has a market capitalization of $1,870.97, a P/E ratio of 20.85 and a beta of 0.65. Silicon Motion Technology has a 52-week low of $37.37 and a 52-week high of $55.68.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $127.24 million. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. The firm’s revenue was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. analysts predict that Silicon Motion Technology will post 2.31 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SIMO. Daiwa Securities Group Inc. acquired a new position in shares of Silicon Motion Technology in the third quarter valued at approximately $101,000. Advisors Preferred LLC raised its position in shares of Silicon Motion Technology by 451.0% in the third quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after buying an additional 2,183 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Silicon Motion Technology in the second quarter valued at approximately $135,000. Airain ltd acquired a new position in shares of Silicon Motion Technology in the second quarter valued at approximately $213,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Silicon Motion Technology in the second quarter valued at approximately $241,000. Institutional investors own 82.79% of the company’s stock.

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Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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