Silicon Motion Technology Target of Unusually High Options Trading (NASDAQ:SIMO)

Silicon Motion Technology Co. (NASDAQ:SIMO) was the recipient of unusually large options trading activity on Friday. Stock investors acquired 2,436 call options on the company. This represents an increase of 90% compared to the average daily volume of 1,283 call options.

Silicon Motion Technology Trading Up 0.8 %

Shares of NASDAQ:SIMO opened at $73.96 on Friday. The business has a fifty day simple moving average of $74.63 and a 200 day simple moving average of $65.64. Silicon Motion Technology has a 1 year low of $49.50 and a 1 year high of $95.33. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 46.81, a P/E/G ratio of 3.86 and a beta of 0.87.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.51 by $0.12. The business had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $197.60 million. Silicon Motion Technology had a return on equity of 7.01% and a net margin of 8.27%. On average, sell-side analysts forecast that Silicon Motion Technology will post 2.65 EPS for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology’s payout ratio is presently 125.95%.

Institutional Investors Weigh In On Silicon Motion Technology

Large investors have recently bought and sold shares of the business. Zweig DiMenna Associates LLC acquired a new position in Silicon Motion Technology during the third quarter valued at approximately $3,101,000. Reinhart Partners LLC. bought a new position in Silicon Motion Technology in the 3rd quarter worth $22,065,000. Inspire Advisors LLC acquired a new position in Silicon Motion Technology during the 3rd quarter worth $646,000. Skylands Capital LLC boosted its holdings in Silicon Motion Technology by 46.7% during the third quarter. Skylands Capital LLC now owns 35,200 shares of the semiconductor producer’s stock valued at $1,804,000 after acquiring an additional 11,200 shares during the period. Finally, Assetmark Inc. acquired a new stake in shares of Silicon Motion Technology in the third quarter valued at about $51,000. 78.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SIMO. Wedbush restated an “outperform” rating and issued a $85.00 target price on shares of Silicon Motion Technology in a report on Friday. B. Riley lifted their price target on Silicon Motion Technology from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Needham & Company LLC upped their price objective on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Friday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Silicon Motion Technology presently has an average rating of “Buy” and an average target price of $87.57.

About Silicon Motion Technology

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.