Silicon Motion Technology Corp ADR [NASDAQ: SIMO] gained 0.84% on the last trading session, reaching $76.94 price per share at the time. The company report on March 12, 2024 at 8:00 PM that Silicon Motion Unveils 6nm UFS 4.0 Controller for AI Smartphones, Edge Computing and Automotive Applications.
Company also launches its second generation UFS3.1 controller supporting the latest high speed 3D TLC and QLC NAND.
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Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion”), a global leader in designing and marketing NAND flash controllers for solid state storage devices, today introduced its UFS (Universal Flash Storage) 4.0 controller, the SM2756, as the flagship of the industry’s broadest merchant portfolio of UFS controller solutions for the growing requirements of AI-powered smartphones as well as other high-performance applications including automotive and edge computing. The company also added a new, second generation SM2753 UFS3.1 controller to broaden its portfolio of controllers now supporting UFS4.0 to UFS2.2 standards. Silicon Motion’s UFS portfolio delivers high-performance and low power embedded storage for flagship to mainstream and value mobile and computing devices, supporting the broadest range of NAND flash, including next-generation high speed 3D TLC and QLC NAND.
If compared to the average trading volume of 476.61K shares, SIMO reached a trading volume of 235319 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Silicon Motion Technology Corp ADR [SIMO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SIMO shares is $82.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SIMO stock is a recommendation set at 1.22. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley Securities have made an estimate for Silicon Motion Technology Corp ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 07, 2024. While these analysts kept the previous recommendation, Craig Hallum raised their target price from $75 to $80. The new note on the price target was released on February 07, 2024, representing the official price target for Silicon Motion Technology Corp ADR stock. Previously, the target price had yet another raise from $54 to $77, while JP Morgan kept a Overweight rating on SIMO stock. On November 02, 2023, analysts increased their price target for SIMO shares from 60 to 75.
The Average True Range (ATR) for Silicon Motion Technology Corp ADR is set at 1.65, with the Price to Sales ratio for SIMO stock in the period of the last 12 months amounting to 4.01. The Price to Book ratio for the last quarter was 3.32, with the Price to Cash per share for the same quarter was set at 9.41. Price to Free Cash Flow for SIMO in the course of the last twelve months was 26.04 with Quick ratio for the last quarter at 2.71.
Trading performance analysis for SIMO stock
Silicon Motion Technology Corp ADR [SIMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.55. With this latest performance, SIMO shares gained by 9.88% in over the last four-week period, additionally plugging by 53.11% over the last 6 months – not to mention a rise of 19.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SIMO stock in for the last two-week period is set at 68.18, with the RSI for the last a single of trading hit 67.84, and the three-weeks RSI is set at 67.86 for Silicon Motion Technology Corp ADR [SIMO]. The present Moving Average for the last 50 days of trading for this stock 69.37, while it was recorded at 76.65 for the last single week of trading, and 61.46 for the last 200 days.
Silicon Motion Technology Corp ADR [SIMO]: A deeper dive into fundamental analysis
Silicon Motion Technology Corp ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.71 and a Current Ratio set at 3.73.
Silicon Motion Technology Corp ADR [SIMO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Silicon Motion Technology Corp ADR posted 0.33/share EPS, while the average EPS was predicted by analysts to be reported at 0.76/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -56.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SIMO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Silicon Motion Technology Corp ADR go to 5.00%.
An analysis of Institutional ownership at Silicon Motion Technology Corp ADR [SIMO]
The top three institutional holders of SIMO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SIMO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SIMO stock with ownership which is approximately 5.8325%.
