The Silicon Motion Technology Corp.’s (SIMO) “Outperform” Rating Reaffirmed at Northland Securities

The Silicon Motion Technology Corp.’s (SIMO) “Outperform” Rating Reaffirmed at Northland Securities

Silicon Motion Technology Corp. (NASDAQ:SIMO)‘s stock had its “outperform” rating reaffirmed by analysts at Northland Securities in a report released on Wednesday. They currently have a $60.00 price objective on the stock. Northland Securities’ price objective would suggest a potential upside of 12.85% from the stock’s current price.

A number of other analysts have also commented on SIMO. B. Riley reaffirmed a “buy” rating and set a $47.75 target price on shares of Silicon Motion Technology Corp. in a report on Monday, June 27th. Susquehanna set a $60.00 target price on shares of Silicon Motion Technology Corp. and gave the stock a “buy” rating in a report on Saturday, October 1st. Brean Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Silicon Motion Technology Corp. in a report on Tuesday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of Silicon Motion Technology Corp. in a report on Wednesday, June 29th. Finally, Zacks Investment Research cut shares of Silicon Motion Technology Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $53.12.

Silicon Motion Technology Corp. (NASDAQ:SIMO) traded up 3.50% during trading on Wednesday, reaching $53.17. 1,313,324 shares of the company’s stock traded hands. The firm has a market cap of $1.88 billion, a PE ratio of 23.68 and a beta of 1.30. The firm has a 50 day moving average price of $51.44 and a 200-day moving average price of $46.75. Silicon Motion Technology Corp. has a 12 month low of $27.35 and a 12 month high of $56.25.

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Silicon Motion Technology Corp. (NASDAQ:SIMO) last released its earnings results on Thursday, July 21st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. Silicon Motion Technology Corp. had a net margin of 18.29% and a return on equity of 22.62%. On average, analysts forecast that Silicon Motion Technology Corp. will post $3.25 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Silicon Motion Technology Corp. during the second quarter valued at approximately $164,000. Advisor Group Inc. acquired a new stake in shares of Silicon Motion Technology Corp. during the second quarter valued at approximately $168,000. Royal Bank of Canada boosted its stake in shares of Silicon Motion Technology Corp. by 116.3% in the first quarter. Royal Bank of Canada now owns 4,521 shares of the company’s stock valued at $176,000 after buying an additional 2,431 shares during the period. Sei Investments Co. boosted its stake in shares of Silicon Motion Technology Corp. by 98.6% in the second quarter. Sei Investments Co. now owns 4,410 shares of the company’s stock valued at $211,000 after buying an additional 2,189 shares during the period. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of Silicon Motion Technology Corp. during the third quarter valued at approximately $215,000. 68.14% of the stock is currently owned by hedge funds and other institutional investors.

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