Silicon Motion Technology Corporation (NASDAQ:SIMO – Get Free Report)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $266.69 and last traded at $260.7990, with a volume of 146409 shares changing hands. The stock had previously closed at $253.59.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on SIMO shares. Wedbush boosted their price target on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Roth Mkm restated a “buy” rating and set a $250.00 price target on shares of Silicon Motion Technology in a report on Wednesday, April 29th. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. Finally, Susquehanna boosted their price target on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Silicon Motion Technology has a consensus rating of “Buy” and an average target price of $205.63.
View Our Latest Report on SIMO
Silicon Motion Technology Stock Performance
Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The business had revenue of $342.11 million during the quarter, compared to analyst estimates of $299.53 million. During the same quarter in the previous year, the business earned $0.60 EPS. Silicon Motion Technology’s quarterly revenue was up 105.5% compared to the same quarter last year. As a group, research analysts predict that Silicon Motion Technology Corporation will post 7.77 EPS for the current year.
Institutional Investors Weigh In On Silicon Motion Technology
Several institutional investors and hedge funds have recently modified their holdings of SIMO. Wolf Hill Capital Management LP acquired a new stake in shares of Silicon Motion Technology in the 4th quarter valued at $53,893,000. Hawk Ridge Capital Management LP lifted its stake in shares of Silicon Motion Technology by 111.3% in the 4th quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer’s stock valued at $73,024,000 after purchasing an additional 415,000 shares during the last quarter. Man Group plc lifted its stake in shares of Silicon Motion Technology by 820.7% in the 4th quarter. Man Group plc now owns 381,048 shares of the semiconductor producer’s stock valued at $35,323,000 after purchasing an additional 339,663 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Silicon Motion Technology in the 1st quarter valued at $22,458,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Silicon Motion Technology by 40.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 623,953 shares of the semiconductor producer’s stock valued at $57,840,000 after purchasing an additional 181,206 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.
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.
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