Susquehanna Has Lowered Expectations for Silicon Motion Technology (NASDAQ:SIMO) Stock Price

Silicon Motion Technology (NASDAQ:SIMO) had its target price trimmed by Susquehanna from $110.00 to $95.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a positive rating on the semiconductor producer’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Craig Hallum decreased their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a report on Thursday. Roth Mkm dropped their target price on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. B. Riley decreased their price target on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Morgan Stanley lowered their price target on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $52.78 on Friday. Silicon Motion Technology has a fifty-two week low of $52.15 and a fifty-two week high of $85.87. The firm’s 50-day simple moving average is $58.37 and its 200 day simple moving average is $69.14. The stock has a market cap of $1.78 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a return on equity of 11.72% and a net margin of 10.90%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. As a group, analysts predict that Silicon Motion Technology will post 2.86 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.79%. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

Hedge Funds Weigh In On Silicon Motion Technology

Several hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC purchased a new position in Silicon Motion Technology during the first quarter valued at approximately $53,676,000. M&G Plc purchased a new stake in shares of Silicon Motion Technology in the first quarter worth $6,304,000. Morse Asset Management Inc purchased a new stake in shares of Silicon Motion Technology in the first quarter worth $700,000. Janney Montgomery Scott LLC boosted its stake in Silicon Motion Technology by 14.4% during the first quarter. Janney Montgomery Scott LLC now owns 83,663 shares of the semiconductor producer’s stock valued at $6,437,000 after buying an additional 10,513 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Silicon Motion Technology during the first quarter worth about $2,216,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Motion Technology Company Profile

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.