Somewhat Favorable News Coverage Somewhat Unlikely to Impact Silicon Motion Technology Corporation (NASDAQ:SIMO) Stock Price

News stories about Silicon Motion Technology Corporation (NASDAQ:SIMO) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies negative and positive news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Silicon Motion Technology Corporation earned a daily sentiment score of 0.07 on Accern’s scale. Accern also assigned media coverage about the semiconductor producer an impact score of 46.8954365835784 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the news headlines that may have effected Accern Sentiment Analysis’s scoring:

A number of equities research analysts have recently issued reports on SIMO shares. B. Riley reaffirmed a “buy” rating and set a $68.75 target price on shares of Silicon Motion Technology Corporation in a research report on Wednesday, April 26th. Pacific Crest boosted their target price on Silicon Motion Technology Corporation from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, May 1st. Zacks Investment Research raised Silicon Motion Technology Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Friday, May 5th. Standpoint Research lowered Silicon Motion Technology Corporation from a “buy” rating to a “reduce” rating in a research report on Tuesday, June 6th. Finally, Loop Capital reaffirmed a “buy” rating and set a $61.00 target price (up from $53.00) on shares of Silicon Motion Technology Corporation in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $56.84.

Silicon Motion Technology Corporation (NASDAQ:SIMO) opened at 42.72 on Friday. The stock has a market cap of $1.53 billion, a P/E ratio of 14.44 and a beta of 0.68. The stock’s 50 day moving average price is $43.52 and its 200-day moving average price is $45.86. Silicon Motion Technology Corporation has a one year low of $37.37 and a one year high of $56.25.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last released its quarterly earnings results on Monday, July 31st. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Silicon Motion Technology Corporation had a net margin of 18.91% and a return on equity of 24.24%. The firm had revenue of $132.70 million during the quarter, compared to analyst estimates of $132.92 million. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, analysts predict that Silicon Motion Technology Corporation will post $2.67 earnings per share for the current year.

Silicon Motion Technology Corporation announced that its board has initiated a stock buyback plan on Monday, July 31st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the semiconductor producer to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Silicon Motion Technology Corporation 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.

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