Silicon Motion Technology (SIMO) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Silicon Motion Technology (NASDAQ:SIMO) from a hold rating to a sell rating in a research report report published on Saturday.

Other equities analysts also recently issued research reports about the stock. Roth Capital boosted their price target on shares of Silicon Motion Technology to $65.00 and gave the stock a buy rating in a research note on Wednesday, August 1st. Needham & Company LLC restated a buy rating and issued a $60.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of Silicon Motion Technology from a hold rating to a sell rating in a research note on Tuesday, July 31st. BidaskClub downgraded shares of Silicon Motion Technology from a strong-buy rating to a buy rating in a research note on Saturday, September 8th. Finally, Morgan Stanley restated an equal weight rating on shares of Silicon Motion Technology in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Silicon Motion Technology has an average rating of Hold and a consensus price target of $58.25.

NASDAQ:SIMO opened at $38.36 on Friday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 18.35 and a beta of 0.42. Silicon Motion Technology has a 52 week low of $36.26 and a 52 week high of $61.85.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, July 31st. The semiconductor producer reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.24. The business had revenue of $138.10 million during the quarter, compared to the consensus estimate of $137.80 million. Silicon Motion Technology had a net margin of 15.28% and a return on equity of 15.97%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Sell-side analysts forecast that Silicon Motion Technology will post 3.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.20 annualized dividend and a dividend yield of 3.13%. Silicon Motion Technology’s dividend payout ratio (DPR) is 56.94%.

Several institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Silicon Motion Technology by 4.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,530,366 shares of the semiconductor producer’s stock worth $135,881,000 after purchasing an additional 105,161 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Silicon Motion Technology by 3.2% during the 2nd quarter. Janus Henderson Group PLC now owns 718,473 shares of the semiconductor producer’s stock worth $38,011,000 after purchasing an additional 22,141 shares during the last quarter. Investec Asset Management LTD lifted its position in shares of Silicon Motion Technology by 0.6% during the 2nd quarter. Investec Asset Management LTD now owns 445,556 shares of the semiconductor producer’s stock worth $23,565,000 after purchasing an additional 2,781 shares during the last quarter. Systematic Financial Management LP lifted its position in shares of Silicon Motion Technology by 20.5% during the 2nd quarter. Systematic Financial Management LP now owns 385,936 shares of the semiconductor producer’s stock worth $20,412,000 after purchasing an additional 65,721 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of Silicon Motion Technology by 1.7% during the 3rd quarter. Peregrine Capital Management LLC now owns 374,848 shares of the semiconductor producer’s stock worth $20,129,000 after purchasing an additional 6,170 shares during the last quarter. 74.95% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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