<div id="readability-page-1"><p><span>Silicon Motion Technology (NASDAQ:SIMO - Get Free Report)</span> was upgraded by equities researchers at Zacks Research from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a research note issued on Tuesday,Zacks.com reports.</p><ul><li>These 3 AI Stocks Just Crushed Earnings: Still Time To Buy?</li></ul><p>SIMO has been the topic of a number of other reports. B. Riley Financial  reaffirmed a &#34;buy&#34; rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. JPMorgan Chase &amp; Co. lifted their price target on Silicon Motion Technology from $145.00 to $260.00 and gave the stock an &#34;overweight&#34; rating in a research note on Friday, May 1st. Susquehanna boosted their price objective on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a &#34;positive&#34; rating in a report on Thursday, April 30th. Wedbush upped their price objective on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the company an &#34;outperform&#34; rating in a research note on Thursday, April 30th. Finally, Roth Mkm  reiterated a &#34;buy&#34; rating and issued a $250.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 29th. One equities research analyst  has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat, Silicon Motion Technology  has an average rating of &#34;Buy&#34; and an average price target of $205.63.</p><p><b>Read Our Latest Stock Analysis on SIMO</b></p><h2>Silicon Motion Technology Stock Performance</h2><ul><li>Analysts Are All In on This Tech Stock—Why You Should Be, Too</li></ul><p>Shares of NASDAQ:SIMO opened at $244.95 on Tuesday. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 0.79 and a beta of 1.67. Silicon Motion Technology has a 1-year low of $52.01 and a 1-year high of $248.59. The company has a 50 day moving average price of $134.91 and a 200 day moving average price of $114.27. </p><p>Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.27. The company had revenue of $342.11 million for the quarter, compared to analysts' expectations of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The firm's revenue was up 105.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share.  On average, sell-side analysts expect that  Silicon Motion Technology will post 7.21 EPS for the current fiscal year. </p><h2>Institutional Inflows and Outflows</h2><ul><li>Silicon Motion Proves That AI in Motion Stays in Motion</li></ul><p>A number of institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman &amp; Co. purchased a new stake in  Silicon Motion Technology in the 3rd quarter worth about $26,000.  WealthCollab LLC grew its stake in  Silicon Motion Technology by 77.4% during the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer's stock valued at $32,000 after acquiring an additional 151 shares in the last quarter.  Arax Advisory Partners grew its stake in  Silicon Motion Technology by 220.9% during the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer's stock valued at $41,000 after acquiring an additional 307 shares in the last quarter.  EverSource Wealth Advisors LLC increased its holdings in shares of  Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer's stock valued at $44,000 after purchasing an additional 366 shares during the period.  Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of  Silicon Motion Technology in the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own  78.02% of the company's stock. </p><h2>About Silicon Motion Technology</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></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9U0lNTw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Silicon Motion Technology Right Now?</h2><p>Before you consider Silicon Motion Technology, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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 Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

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<p>Zacks Research upgraded Silicon Motion Technology (NASDAQ:SIMO) from a "hold" to a "strong-buy" rating. Other analysts have also given positive ratings, with price targets ranging from $205.63 to $275.00. The stock opened at $244.95, with a market cap of $8.32 billion and a P/E ratio of 48.70. Silicon Motion reported a quarterly EPS of $1.58, exceeding estimates, and a revenue of $342.11 million, up 105.5% year-over-year. Institutional investors hold 78.02% of the company's stock, indicating strong interest in the semiconductor producer.</p>

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Silicon Motion Technology (NASDAQ:SIMO) Rating Increased to Strong-Buy at Zacks Research