Silicon Motion Technology Corporation (SIMO) Rating Lowered to Hold at ValuEngine

Silicon Motion Technology Corporation (NASDAQ:SIMO) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

SIMO has been the topic of a number of other reports. Standpoint Research raised Silicon Motion Technology Corporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, March 7th. They noted that the move was a valuation call. Zacks Investment Research raised Silicon Motion Technology Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Friday, May 5th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target (down from $60.00) on shares of Silicon Motion Technology Corporation in a report on Tuesday, April 11th. Pacific Crest raised their price target on Silicon Motion Technology Corporation from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, May 1st. Finally, Loop Capital restated a “buy” rating and set a $61.00 price objective (up previously from $53.00) on shares of Silicon Motion Technology Corporation in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Silicon Motion Technology Corporation currently has a consensus rating of “Buy” and an average target price of $57.56.

Analyst Recommendations for Silicon Motion Technology Corporation (NASDAQ:SIMO)

Silicon Motion Technology Corporation (NASDAQ SIMO) opened at 52.41 on Friday. The stock has a market capitalization of $1.86 billion, a PE ratio of 16.81 and a beta of 0.70. Silicon Motion Technology Corporation has a 12 month low of $37.37 and a 12 month high of $56.25. The stock has a 50 day moving average price of $51.31 and a 200 day moving average price of $45.53.

TRADEMARK VIOLATION WARNING: “Silicon Motion Technology Corporation (SIMO) Rating Lowered to Hold at ValuEngine” was reported by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another domain, it was illegally copied and republished in violation of international copyright legislation. The correct version of this article can be accessed at https://www.tickerreport.com/banking-finance/2654412/silicon-motion-technology-corporation-simo-rating-lowered-to-hold-at-valuengine.html.

Several hedge funds and other institutional investors have recently made changes to their positions in SIMO. Commerzbank Aktiengesellschaft FI raised its position in shares of Silicon Motion Technology Corporation by 19.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,966 shares of the semiconductor producer’s stock valued at $211,000 after buying an additional 809 shares during the period. Oxford Asset Management acquired a new position in shares of Silicon Motion Technology Corporation during the fourth quarter valued at about $1,586,000. FMR LLC raised its position in shares of Silicon Motion Technology Corporation by 62.8% in the fourth quarter. FMR LLC now owns 707,945 shares of the semiconductor producer’s stock valued at $30,074,000 after buying an additional 273,000 shares during the period. Royce & Associates LP raised its position in shares of Silicon Motion Technology Corporation by 11.4% in the fourth quarter. Royce & Associates LP now owns 158,600 shares of the semiconductor producer’s stock valued at $6,737,000 after buying an additional 16,200 shares during the period. Finally, Trexquant Investment LP raised its position in shares of Silicon Motion Technology Corporation by 219.3% in the fourth quarter. Trexquant Investment LP now owns 14,688 shares of the semiconductor producer’s stock valued at $624,000 after buying an additional 10,088 shares during the period. Institutional investors and hedge funds own 79.86% of the company’s stock.

About Silicon Motion Technology Corporation

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SIMO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Silicon Motion Technology Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Blue Apron Filed Thursday for Public Offering
Blue Apron Filed Thursday for Public Offering
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Large Auto Lender Checked Just 8% of Incomes for Applicants
Large Auto Lender Checked Just 8% of Incomes for Applicants


Leave a Reply

© 2006-2017 Ticker Report. Google+.