Silicon Motion Technology Corporation (SIMO) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) in a research report released on Monday, October 9th. They currently have a $57.00 target price on the semiconductor producer’s stock, up from their prior target price of $54.00.

Several other analysts also recently commented on SIMO. ValuEngine downgraded Silicon Motion Technology Corporation from a buy rating to a hold rating in a research note on Friday, June 16th. Pacific Crest reiterated an overweight rating and set a $62.00 target price on shares of Silicon Motion Technology Corporation in a research note on Wednesday, June 21st. Zacks Investment Research downgraded Silicon Motion Technology Corporation from a buy rating to a hold rating in a research note on Tuesday, July 4th. BidaskClub downgraded Silicon Motion Technology Corporation from a hold rating to a sell rating in a research note on Saturday, July 8th. Finally, B. Riley reiterated a buy rating and set a $68.75 target price on shares of Silicon Motion Technology Corporation in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $57.23.

Shares of Silicon Motion Technology Corporation (SIMO) traded down 0.38% during mid-day trading on Monday, reaching $51.78. The company’s stock had a trading volume of 248,461 shares. Silicon Motion Technology Corporation has a 12 month low of $37.37 and a 12 month high of $55.68. The firm has a market cap of $1.85 billion, a PE ratio of 17.51 and a beta of 0.70. The company has a 50-day moving average of $48.52 and a 200-day moving average of $47.38.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last issued its earnings results on Monday, July 31st. The semiconductor producer reported $0.69 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.04). Silicon Motion Technology Corporation had a net margin of 18.91% and a return on equity of 24.24%. The business had revenue of $132.70 million for the quarter, compared to analysts’ expectations of $132.92 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, analysts predict that Silicon Motion Technology Corporation will post $2.69 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Silicon Motion Technology Corporation (SIMO) Rating Reiterated by Needham & Company LLC” was reported by BBNS and is owned by of BBNS. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://baseballnewssource.com/markets/silicon-motion-technology-corporation-simo-stock-rating-reaffirmed-by-needham-company-llc/1704543.html.

Silicon Motion Technology Corporation declared that its Board of Directors has approved a share buyback program on Monday, July 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor producer to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

A number of institutional investors have recently made changes to their positions in SIMO. First Trust Advisors LP raised its holdings in Silicon Motion Technology Corporation by 20.7% in the 1st quarter. First Trust Advisors LP now owns 10,970 shares of the semiconductor producer’s stock worth $513,000 after purchasing an additional 1,878 shares during the period. US Bancorp DE raised its holdings in Silicon Motion Technology Corporation by 71.5% in the 1st quarter. US Bancorp DE now owns 2,194 shares of the semiconductor producer’s stock worth $102,000 after purchasing an additional 915 shares during the period. Karp Capital Management Corp bought a new position in Silicon Motion Technology Corporation in the 1st quarter worth $686,000. Sei Investments Co. raised its holdings in Silicon Motion Technology Corporation by 4.7% during the first quarter. Sei Investments Co. now owns 6,106 shares of the semiconductor producer’s stock valued at $286,000 after acquiring an additional 275 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Silicon Motion Technology Corporation by 34.7% during the first quarter. Ameriprise Financial Inc. now owns 64,259 shares of the semiconductor producer’s stock valued at $3,004,000 after acquiring an additional 16,552 shares during the period. 81.02% of the stock is currently owned by institutional investors.

About Silicon Motion Technology Corporation

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

Analyst Recommendations for Silicon Motion Technology Corporation (NASDAQ:SIMO)

Receive News & Ratings for Silicon Motion Technology Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cora Becomes New Manager for Boston Red Sox
Alex Cora Becomes New Manager for Boston Red Sox
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends


Leave a Reply

 
© 2006-2017 BBNS.