Silicon Motion Technology’s (SIMO) Buy Rating Reiterated at Needham & Company LLC

Silicon Motion Technology (NASDAQ:SIMO)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $110.00 price objective on the semiconductor producer’s stock. Needham & Company LLC’s target price points to a potential upside of 12.12% from the company’s previous close.

A number of other equities research analysts have also weighed in on SIMO. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Craig Hallum lifted their price target on Silicon Motion Technology from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. B. Riley boosted their price objective on Silicon Motion Technology from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Roth Capital reissued a “buy” rating and set a $120.00 price objective on shares of Silicon Motion Technology in a research note on Friday. Finally, Susquehanna lifted their target price on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the stock a “positive” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $107.14.

Silicon Motion Technology Stock Performance

SIMO stock opened at $98.11 on Monday. The firm has a market cap of $3.33 billion, a P/E ratio of 41.40, a P/E/G ratio of 1.75 and a beta of 1.03. The firm’s fifty day moving average is $90.68 and its 200 day moving average is $74.82. Silicon Motion Technology has a 52 week low of $37.21 and a 52 week high of $106.60.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Thursday, October 30th. The semiconductor producer reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.19. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The business had revenue of $242.00 million during the quarter, compared to the consensus estimate of $222.60 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Silicon Motion Technology has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Silicon Motion Technology will post 3.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Silicon Motion Technology by 61.3% during the first quarter. Invesco Ltd. now owns 1,675,648 shares of the semiconductor producer’s stock valued at $84,721,000 after purchasing an additional 636,869 shares in the last quarter. Reinhart Partners LLC. lifted its position in Silicon Motion Technology by 2.0% during the third quarter. Reinhart Partners LLC. now owns 1,500,934 shares of the semiconductor producer’s stock valued at $142,305,000 after buying an additional 29,351 shares during the period. Acadian Asset Management LLC lifted its position in Silicon Motion Technology by 4.1% during the second quarter. Acadian Asset Management LLC now owns 1,310,353 shares of the semiconductor producer’s stock valued at $98,453,000 after buying an additional 51,978 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in shares of Silicon Motion Technology by 115.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after buying an additional 686,261 shares in the last quarter. Finally, Pertento Partners LLP grew its position in shares of Silicon Motion Technology by 4.1% in the 2nd quarter. Pertento Partners LLP now owns 1,259,004 shares of the semiconductor producer’s stock worth $94,639,000 after buying an additional 49,541 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s stock.

About Silicon Motion Technology

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company 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.