Silicon Motion Technology (NASDAQ:SIMO) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the stock. Roth Capital reaffirmed a “buy” rating and set a $120.00 target price on shares of Silicon Motion Technology in a research note on Friday, October 31st. B. Riley increased their target price on Silicon Motion Technology from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Silicon Motion Technology in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Silicon Motion Technology in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Silicon Motion Technology has a consensus rating of “Buy” and an average price target of $111.25.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO traded down $1.66 during mid-day trading on Friday, hitting $93.71. 339,924 shares of the stock traded hands, compared to its average volume of 421,301. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 1.75 and a beta of 1.03. The stock has a fifty day moving average price of $92.28 and a 200-day moving average price of $76.54. 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 announced its quarterly earnings data on Thursday, October 30th. The semiconductor producer reported $1.00 EPS for the quarter, beating the consensus estimate of $0.81 by $0.19. The business had revenue of $242.00 million during the quarter, compared to analyst estimates of $222.60 million. Silicon Motion Technology had a return on equity of 10.14% and a net margin of 10.36%.The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. Silicon Motion Technology has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Silicon Motion Technology will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 6th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 68.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SIMO. NewEdge Wealth LLC purchased a new position in shares of Silicon Motion Technology in the 3rd quarter worth $251,000. JPMorgan Chase & Co. boosted its stake in Silicon Motion Technology by 89.7% during the third quarter. JPMorgan Chase & Co. now owns 8,634 shares of the semiconductor producer’s stock worth $819,000 after buying an additional 4,082 shares during the period. Hardy Reed LLC raised its stake in shares of Silicon Motion Technology by 3.3% in the third quarter. Hardy Reed LLC now owns 4,956 shares of the semiconductor producer’s stock valued at $470,000 after acquiring an additional 159 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Silicon Motion Technology by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,298 shares of the semiconductor producer’s stock worth $502,000 after acquiring an additional 271 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Silicon Motion Technology by 12.0% during the 3rd quarter. Assetmark Inc. now owns 2,455 shares of the semiconductor producer’s stock worth $233,000 after purchasing an additional 264 shares during the period. 78.02% of the stock is owned by hedge funds and other institutional investors.

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.