The price of Silicon Motion Technology Corporation (NASDAQ:SIMO) shares last traded on Wall Street fell -19.65% to $52.51.
Based on available information, 9 analysts follow Silicon Motion Technology Corporation (NASDAQ:SIMO). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $106.00 and a low of $59.00, we find $70.00. Given the previous closing price of $65.35, this indicates a potential upside of 7.12 percent. SIMO stock price is now -17.92% away from the 50-day moving average and -17.12% away from the 200-day moving average. The market capitalization of the company currently stands at $1.79B.
Among analysts, 4 rate the stock a hold while 4 rate it a buy. Brokers who have rated the stock have averaged $79.22 as their price target over the next twelve months.
With the price target maintained at $75, Needham recently Upgraded its rating from Hold to Buy for Silicon Motion Technology Corporation (NASDAQ: SIMO).
A total of 7.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SIMO stock. A new stake in Silicon Motion Technology Corporation shares was purchased by HAWK RIDGE CAPITAL MANAGEMENT LP during the first quarter worth $34,930,000. HAP TRADING, LLC invested $10,546,000 in shares of SIMO during the first quarter. In the first quarter, NATIONAL BANK OF CANADA /FI/ acquired a new stake in Silicon Motion Technology Corporation valued at approximately $8,764,000. HEARTLAND ADVISORS INC acquired a new stake in SIMO for approximately $5,251,000. BOUSSARD & GAVAUDAN INVESTMENT MANAGEMENT LLP purchased a new stake in SIMO valued at around $4,156,000 in the second quarter. In total, there are 244 active investors with 69.60% ownership of the company’s stock.
A candlestick chart of Silicon Motion Technology Corporation (NASDAQ: SIMO) showed a price of $59.23 on Thursday morning. During the past 12 months, Silicon Motion Technology Corporation has had a low of $51.44 and a high of $95.33. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 5.50, and a quick ratio of 3.20. According to the stock market information, the enterprise value for the company is $1.53B, which is based on a 11.08 price-to-earnings ratio, a 2.22 price-to-earnings-growth ratio, and a beta of 0.93. The fifty day moving average price for SIMO is $63.95 and a two-hundred day moving average price translates $63.29 for the stock.
The latest earnings results from Silicon Motion Technology Corporation (NASDAQ: SIMO) was released for Mar, 2023. According to the Semiconductors Company, earnings per share came in at $0.33, missing analysts’ expectations of $0.76 by -0.43. This compares to $1.60 EPS in the same period last year. The net profit margin was 15.50% and return on equity was 18.20% for SIMO. The company reported revenue of $124.07 million for the quarter, compared to $241.98 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -48.73 percent. For the current quarter, analysts expect SIMO to generate $133.23M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/25/2022. Investors who held shares on 08/11/2022 were paid a $0.50 dividend. On an annualized basis, this represents a $2.00 dividend and a 3.81% percent yield. There was an ex-dividend date of 08/10/2022 for this dividend.
Silicon Motion Technology Corporation(SIMO) 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. It markets its controllers under the SMI brand; enterprise-grade SSDs under the Shannon Systems brand; and single-chip industrial-grade SSDs under the FerriSSD, Ferri-eMMC, and Ferri-UFS brands. The company markets and sells its products through direct sales personnel and independent electronics distributors to NAND flash makers, module makers, hyperscalers, and OEMs. It operates in Taiwan, the United States, Korea, China, Malaysia, Singapore, and internationally. The company was founded in 1995 and is based in Hong Kong, Hong Kong.
