Silicon Motion Technology Corporation (NASDAQ:SIMO) is a stock to watch today. At current price of $50.47, the shares have already lost -1.43 points (-2.76% lower) from its previous close of $51.9. The stock sets an active trading volume day with a reported 118343 contracts so far this session. SIMO shares had a relatively better volume day versus average trading capacity of 250.88 thousand shares, but with a 30.16 million float and a -0.38% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SIMO stock indicates that the average analyst price target is $53.4 per share. This means the stock has a potential increase of 5.81% from where the SIMO share price has been trading recently.
During the recent trading session for Silicon Motion Technology Corporation (NASDAQ:SIMO), the company witnessed their stock drop by $-0.48 over a week and surge $2.11 from the price 20 days ago. When compared to their established 52-week high of $53.04, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/14/20. The recent low of $30.86 stood for a -4.85% since 08/28/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.24 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Silicon Motion Technology Corporation, the two-week RSI stands at 56.61. This figure suggests that SIMO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SIMO readings is similarly very revealing as it has a stochastic reading of 62.3% at this stage. This figure means that SIMO share price today is being neutral.
Technical chart claims that Silicon Motion Technology Corporation (SIMO) would settle between $52.68/share to $53.47/share level. However, if the stock price goes below the $51.47 mark, then the market for Silicon Motion Technology Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $51.05 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.34. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Craig Hallum lifted target price for shares of SIMO but were stick to Buy recommendation for the stock in their opinion released on January 10. The price target has been raised from $52 to $60. Wedbush, analysts launched coverage of Silicon Motion Technology Corporation (NASDAQ:SIMO) stock with a Neutral recommendation, according to their flash note issued to investors on October 22. Analysts at Nomura released an upgrade from Reduce to Neutral for the stock, in a research note that dated back to October 07.
SIMO equity has an average rating of 2.17, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Silicon Motion Technology Corporation (NASDAQ:SIMO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SIMO stock price is currently trading at 16.71X forward 12-month Consensus EPS estimates, and its P/E ratio is 34.1 while for the average stock in the same group, the multiple is 27.5. Silicon Motion Technology Corporation current P/B ratio of 3.4 means it is trading at a discount against its industry’s 5.
Silicon Motion Technology Corporation (SIMO)’s current-quarter revenues are projected to climb by nearly 14.8% to hit $141630, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -16.8% from $530350 to a noteworthy $441170. At the other end of the current quarter income statement, Silicon Motion Technology Corporation is expected to see its adjusted earnings surge by roughly 3.6% to hit $0.86 per share. For the fiscal year, SIMO’s earnings are projected to climb by roughly -27% to hit $2.49 per share.