Silicon Motion Technology (NASDAQ:SIMO) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Silicon Motion Technology (NASDAQ:SIMO) from a strong-buy rating to a buy rating in a research report report published on Saturday.

A number of other research analysts have also recently weighed in on SIMO. Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Needham & Company LLC increased their target price on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. William Blair began coverage on shares of Silicon Motion Technology in a research report on Thursday, January 22nd. They issued an “outperform” rating for the company. Craig Hallum restated a “buy” rating and issued a $160.00 price target on shares of Silicon Motion Technology in a research note on Thursday, February 5th. Finally, Wedbush upped their price objective on Silicon Motion Technology from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $132.50.

Silicon Motion Technology Price Performance

Shares of NASDAQ:SIMO opened at $123.26 on Friday. The firm has a market capitalization of $4.19 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. Silicon Motion Technology has a 1 year low of $37.21 and a 1 year high of $146.85. The firm’s 50-day moving average is $122.76 and its two-hundred day moving average is $101.74.

Institutional Trading of Silicon Motion Technology

A number of large investors have recently made changes to their positions in the company. Boston Partners lifted its stake in Silicon Motion Technology by 33.2% in the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after acquiring an additional 183,458 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at approximately $1,780,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at $263,000. SG Americas Securities LLC acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at $1,070,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Silicon Motion Technology during the 2nd quarter worth $288,000. 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.