Silicon Motion Technology (SIMO) Downgraded by UBS Group

UBS Group cut shares of Silicon Motion Technology (NASDAQ:SIMO) from a positive rating to a neutral rating in a report released on Tuesday, The Fly reports.

A number of other research firms also recently commented on SIMO. Zacks Investment Research downgraded shares of Silicon Motion Technology from a hold rating to a sell rating in a report on Wednesday, January 10th. Nomura downgraded shares of Silicon Motion Technology from a neutral rating to a reduce rating and set a $45.00 price objective for the company. in a report on Wednesday, January 10th. B. Riley restated a buy rating and set a $68.75 price target on shares of Silicon Motion Technology in a report on Monday, January 8th. ValuEngine upgraded shares of Silicon Motion Technology from a hold rating to a buy rating in a report on Sunday, December 31st. Finally, Summit Redstone upgraded shares of Silicon Motion Technology from a hold rating to a buy rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $56.52.

Silicon Motion Technology (SIMO) traded up $1.29 during mid-day trading on Tuesday, reaching $48.15. 425,956 shares of the company’s stock were exchanged, compared to its average volume of 901,697. The firm has a market cap of $1,690.00, a P/E ratio of 18.81 and a beta of 0.66. Silicon Motion Technology has a 12 month low of $37.37 and a 12 month high of $56.51.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $127.24 million. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. Silicon Motion Technology’s quarterly revenue was down 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 EPS. analysts predict that Silicon Motion Technology will post 2.31 EPS for the current year.

The business also recently disclosed a None dividend, which will be paid on Tuesday, February 27th. Investors of record on Monday, February 12th will be given a dividend of $0.298 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a dividend yield of 2.12%. Silicon Motion Technology’s payout ratio is currently 34.77%.

Several large investors have recently bought and sold shares of SIMO. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Motion Technology during the 3rd quarter worth approximately $101,000. Advisors Preferred LLC boosted its position in shares of Silicon Motion Technology by 451.0% during the 3rd quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock worth $128,000 after purchasing an additional 2,183 shares during the period. Seven Eight Capital LP purchased a new position in shares of Silicon Motion Technology during the 2nd quarter worth approximately $135,000. Boothbay Fund Management LLC purchased a new position in shares of Silicon Motion Technology during the 3rd quarter worth approximately $251,000. Finally, Virtu KCG Holdings LLC boosted its position in shares of Silicon Motion Technology by 25.3% during the 2nd quarter. Virtu KCG Holdings LLC now owns 5,770 shares of the semiconductor producer’s stock worth $278,000 after purchasing an additional 1,164 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

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Silicon Motion Technology Company Profile

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.

The Fly

Analyst Recommendations for Silicon Motion Technology (NASDAQ:SIMO)

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