Silicon Motion Technology (NASDAQ:SIMO) Raised to “Strong-Buy” at Wall Street Zen

Silicon Motion Technology (NASDAQ:SIMO) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Zacks Research lowered Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Roth Mkm set a $140.00 price target on Silicon Motion Technology and gave the stock a “buy” rating in a report on Wednesday, February 4th. Wedbush lifted their price target on Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Needham & Company LLC lifted their price target on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, William Blair initiated coverage on Silicon Motion Technology in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $126.71 on Friday. Silicon Motion Technology has a 52 week low of $37.82 and a 52 week high of $146.85. The business’s fifty day simple moving average is $124.97 and its 200-day simple moving average is $106.47. The firm has a market cap of $4.31 billion, a PE ratio of 34.81, a P/E/G ratio of 0.85 and a beta of 1.09.

Institutional Trading of Silicon Motion Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new stake in Silicon Motion Technology in the 3rd quarter valued at about $26,000. WealthCollab LLC raised its holdings in Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after buying an additional 151 shares during the period. Arax Advisory Partners raised its holdings in Silicon Motion Technology by 220.9% in the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after buying an additional 307 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 366 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in Silicon Motion Technology in the 4th quarter valued at about $71,000. 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.