Silicon Motion (NASDAQ:SIMO) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, March 20th.
A number of other equities research analysts also recently issued reports on SIMO. ValuEngine upgraded shares of Silicon Motion from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Summit Redstone upgraded shares of Silicon Motion from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. KeyCorp boosted their price objective on shares of Silicon Motion from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. B. Riley reiterated a “buy” rating and set a $68.75 price objective on shares of Silicon Motion in a research note on Monday, January 8th. Finally, Zacks Investment Research downgraded shares of Silicon Motion from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.98.
Silicon Motion stock traded up $0.16 during trading on Tuesday, reaching $49.42. The company had a trading volume of 275,003 shares, compared to its average volume of 526,517. Silicon Motion has a 12-month low of $40.33 and a 12-month high of $56.51. The company has a market cap of $1,714.11, a price-to-earnings ratio of 23.57 and a beta of 0.60.
Silicon Motion (NASDAQ:SIMO) last released its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.21). Silicon Motion had a net margin of 14.34% and a return on equity of 15.33%. The company had revenue of $136.17 million during the quarter, compared to analysts’ expectations of $135.00 million. analysts anticipate that Silicon Motion will post 2.97 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Castleark Management LLC acquired a new position in shares of Silicon Motion during the fourth quarter worth $148,000. EP Wealth Advisors LLC acquired a new position in shares of Silicon Motion during the fourth quarter worth $233,000. Boothbay Fund Management LLC acquired a new position in shares of Silicon Motion during the third quarter worth $251,000. Brown Advisory Inc. lifted its position in shares of Silicon Motion by 42.3% during the third quarter. Brown Advisory Inc. now owns 10,559 shares of the semiconductor producer’s stock worth $507,000 after purchasing an additional 3,140 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Silicon Motion by 28.9% during the third quarter. First Trust Advisors LP now owns 11,728 shares of the semiconductor producer’s stock worth $563,000 after purchasing an additional 2,626 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.
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About Silicon Motion
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile storage and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded MultiMediaCard (eMMC), client solid-state drive (SSD), flash memory card, and Universal Serial Bus flash drive controllers.
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