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

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

Several other analysts have also recently commented on SIMO. Craig Hallum reiterated a “buy” rating and issued a $160.00 target price on shares of Silicon Motion Technology in a report on Thursday, February 5th. William Blair initiated coverage on shares of Silicon Motion Technology in a research note on Thursday, January 22nd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Roth Mkm set a $140.00 target price on shares of Silicon Motion Technology and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $132.50.

Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $136.28 on Friday. The business has a fifty day moving average price of $107.48 and a two-hundred day moving average price of $94.39. The stock has a market capitalization of $4.63 billion, a PE ratio of 37.44, a PEG ratio of 0.93 and a beta of 1.06. Silicon Motion Technology has a fifty-two week low of $37.21 and a fifty-two week high of $144.68.

Institutional Investors Weigh In On Silicon Motion Technology

A number of large investors have recently bought and sold shares of the stock. Wedbush Securities Inc. raised its holdings in shares of Silicon Motion Technology by 1.7% during the fourth quarter. Wedbush Securities Inc. now owns 4,685 shares of the semiconductor producer’s stock valued at $434,000 after purchasing an additional 79 shares during the period. NewEdge Wealth LLC increased its position in Silicon Motion Technology by 3.6% in the 4th quarter. NewEdge Wealth LLC now owns 2,631 shares of the semiconductor producer’s stock valued at $244,000 after buying an additional 91 shares in the last quarter. Ballentine Partners LLC increased its position in Silicon Motion Technology by 2.8% in the 4th quarter. Ballentine Partners LLC now owns 4,006 shares of the semiconductor producer’s stock valued at $371,000 after buying an additional 110 shares in the last quarter. Penn Capital Management Company LLC raised its stake in Silicon Motion Technology by 2.3% during the 3rd quarter. Penn Capital Management Company LLC now owns 5,821 shares of the semiconductor producer’s stock worth $552,000 after buying an additional 132 shares during the period. Finally, WealthCollab LLC boosted its holdings in Silicon Motion Technology by 77.4% in the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after acquiring an additional 151 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

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.