<div id="readability-page-1"><p><span>Silicon Motion Technology (NASDAQ:SIMO - Get Free Report)</span> had its target price reduced by investment analysts at Craig Hallum  from $96.00 to $90.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm presently has a &#34;buy&#34; rating on the semiconductor producer's stock. Craig Hallum's price target points to a potential upside of 67.66% from the stock's current price.</p><ul><li>Silicon Motion Proves That AI in Motion Stays in Motion</li></ul><p>SIMO has been the subject of several other research reports. Wedbush  reaffirmed an &#34;outperform&#34; rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price objective on Silicon Motion Technology from $78.00 to $65.00 and set an &#34;overweight&#34; rating for the company in a research report on Monday, September 16th. StockNews.com raised Silicon Motion Technology from a &#34;hold&#34; rating to a &#34;buy&#34; rating in a research report on Saturday, September 14th. Bank of America cut Silicon Motion Technology from a &#34;buy&#34; rating to an &#34;underperform&#34; rating and reduced their price objective for the company from $90.00 to $60.00 in a research report on Friday, August 16th. Finally, Roth Mkm reduced their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a &#34;buy&#34; rating for the company in a research report on Tuesday, October 8th. One investment analyst  has rated the stock with a sell rating and nine have issued  a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of &#34;Moderate Buy&#34; and an average target price of $85.44.</p><p><b>Check Out Our Latest Stock Report on SIMO</b></p><h2>Silicon Motion Technology Trading Down 4.2 %</h2><ul><li>Silicon Motion: The Market's Best Merger Arbitrage Opportunity</li></ul><p>Shares of NASDAQ SIMO traded down $2.33 during mid-day trading on Thursday, reaching $53.68. The company had a trading volume of 191,816 shares, compared to its average volume of 376,629. The stock has a market cap of $1.81 billion, a PE ratio of 23.26, a P/E/G ratio of 0.88 and a beta of 0.83. The company has a 50-day moving average price of $58.81 and a two-hundred day moving average price of $69.46. Silicon Motion Technology has a 1-year low of $52.92 and a 1-year high of $85.87. </p><p>Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $210.67 million during the quarter, compared to analysts' expectations of $206.75 million. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. Silicon Motion Technology's revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share.  On average, research analysts expect that  Silicon Motion Technology will post 2.86 EPS for the current year. </p><h2>Institutional Investors Weigh In On Silicon Motion Technology</h2><p>Several hedge funds have recently made changes to their positions in SIMO. Blue Trust Inc. lifted its position in shares of  Silicon Motion Technology by 3,971.4% in the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock worth $44,000 after acquiring an additional 556 shares during the period.  Headlands Technologies LLC acquired a new stake in shares of  Silicon Motion Technology during the 2nd quarter valued at about $139,000.  LRI Investments LLC bought a new stake in shares of  Silicon Motion Technology in the 1st quarter valued at approximately $150,000.  Van ECK Associates Corp bought a new position in shares of  Silicon Motion Technology during the third quarter valued at $151,000.  Finally, PNC Financial Services Group Inc. boosted its stake in  Silicon Motion Technology by 48.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the semiconductor producer's stock worth $155,000 after purchasing an additional 821 shares in the last quarter. Institutional investors own  78.02% of the company's stock. </p><h2>Silicon Motion Technology Company Profile</h2> (Get Free Report)<p>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.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Silicon Motion Technology</li><li>Trading Stocks: RSI and Why it's Useful</li><li>Microsoft Can Hit New All-Time Highs This Year - Here’s Why</li><li>What Are Some of the Best Large-Cap Stocks to Buy?</li><li>Zillow Stock’s Bull Case: Why This Recent Sell-Off Could Be a Buy</li><li>What Are Dividend Champions? How to Invest in the Champions</li><li>IonQ’s Quantum Surge: Ride the Wave or Cash Out?</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9U0lNTw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" height="385" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9U0lNTw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silicon Motion Technology wasn't on the list.</p><p>While Silicon Motion Technology currently has a &#34;Moderate Buy&#34; rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

SIMO

<p>Craig Hallum has lowered its price target for Silicon Motion Technology (NASDAQ:SIMO) from an unspecified amount to another unspecified amount, while maintaining a "buy" rating. The new target suggests a potential upside of 67.66%. Other analysts have varied opinions, with some maintaining buy ratings and others downgrading their ratings. Currently, the stock is trading down 4.2% at $XX.XX, with an average rating of "Moderate Buy" and an average target price of $XX.44.</p>

Craig Hallum Lowers Silicon Motion Technology (NASDAQ:SIMO) Price Target to $90.00