Silicon Motion Technology (NASDAQ:SIMO) Price Target Lowered to $45.00 at Roth Capital

Silicon Motion Technology (NASDAQ:SIMO) had its price target lowered by Roth Capital from $50.00 to $45.00 in a research note published on Thursday, August 1st, The Fly reports. The firm currently has a buy rating on the semiconductor producer’s stock.

A number of other research firms have also issued reports on SIMO. Morgan Stanley lowered Silicon Motion Technology from an equal weight rating to an underweight rating in a report on Monday, April 22nd. Cowen restated an outperform rating and issued a $42.00 target price (down previously from $45.00) on shares of Silicon Motion Technology in a report on Thursday, August 1st. BidaskClub lowered Silicon Motion Technology from a buy rating to a hold rating in a report on Wednesday, July 17th. B. Riley increased their target price on Silicon Motion Technology from $52.00 to $55.00 and gave the company a buy rating in a report on Monday, May 6th. Finally, ValuEngine lowered Silicon Motion Technology from a hold rating to a sell rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $47.58.

Shares of NASDAQ:SIMO traded down $1.02 on Thursday, reaching $32.26. 362,127 shares of the company traded hands, compared to its average volume of 479,551. The company’s 50 day moving average is $37.82 and its 200-day moving average is $39.87. The stock has a market capitalization of $1.20 billion, a PE ratio of 9.46, a P/E/G ratio of 3.72 and a beta of 1.04. Silicon Motion Technology has a fifty-two week low of $31.41 and a fifty-two week high of $59.90.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, July 30th. The semiconductor producer reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. The company had revenue of $98.80 million during the quarter, compared to analyst estimates of $97.33 million. Silicon Motion Technology had a return on equity of 17.76% and a net margin of 17.84%. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, research analysts forecast that Silicon Motion Technology will post 1.79 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Oak Associates Ltd. OH raised its holdings in shares of Silicon Motion Technology by 3.3% during the first quarter. Oak Associates Ltd. OH now owns 32,060 shares of the semiconductor producer’s stock worth $1,271,000 after acquiring an additional 1,025 shares in the last quarter. Freestone Capital Holdings LLC raised its holdings in shares of Silicon Motion Technology by 48.4% during the first quarter. Freestone Capital Holdings LLC now owns 152,302 shares of the semiconductor producer’s stock worth $6,037,000 after acquiring an additional 49,660 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Silicon Motion Technology during the first quarter worth $516,000. Northcape Capital Pty Ltd increased its position in Silicon Motion Technology by 0.4% during the first quarter. Northcape Capital Pty Ltd now owns 595,151 shares of the semiconductor producer’s stock worth $23,592,000 after buying an additional 2,575 shares during the last quarter. Finally, Penn Capital Management Co. Inc. acquired a new position in Silicon Motion Technology during the first quarter worth $6,641,000. Institutional investors and hedge funds own 71.76% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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