Nomura Holdings Inc. Buys Shares of 50,271 Silicon Motion Technology Co. (NASDAQ:SIMO)

Nomura Holdings Inc. bought a new position in Silicon Motion Technology Co. (NASDAQ:SIMO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,271 shares of the semiconductor producer’s stock, valued at approximately $3,080,000. Nomura Holdings Inc. owned approximately 0.15% of Silicon Motion Technology at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SIMO. Parallel Advisors LLC lifted its holdings in Silicon Motion Technology by 154.9% in the 4th quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after purchasing an additional 333 shares during the last quarter. CVA Family Office LLC bought a new stake in Silicon Motion Technology in the fourth quarter valued at $65,000. Assetmark Inc. grew its position in Silicon Motion Technology by 34.5% in the fourth quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock valued at $82,000 after acquiring an additional 342 shares during the period. Covestor Ltd grew its position in Silicon Motion Technology by 76.9% in the third quarter. Covestor Ltd now owns 1,788 shares of the semiconductor producer’s stock valued at $92,000 after acquiring an additional 777 shares during the period. Finally, Barometer Capital Management Inc. acquired a new position in Silicon Motion Technology in the fourth quarter worth $123,000. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Price Performance

Shares of NASDAQ:SIMO opened at $84.88 on Wednesday. Silicon Motion Technology Co. has a 1 year low of $49.50 and a 1 year high of $95.33. The company has a market cap of $2.86 billion, a PE ratio of 48.23, a P/E/G ratio of 0.79 and a beta of 0.89. The stock’s 50-day moving average is $77.40 and its 200 day moving average is $70.85.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.78%. The business had revenue of $189.31 million during the quarter, compared to analyst estimates of $180.23 million. Analysts expect that Silicon Motion Technology Co. will post 2.77 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, May 8th. Silicon Motion Technology’s payout ratio is 113.07%.

Analysts Set New Price Targets

SIMO has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price target on shares of Silicon Motion Technology in a research report on Monday, May 6th. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Silicon Motion Technology in a research note on Friday, May 3rd. Susquehanna upped their target price on Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a research report on Monday, May 6th. Craig Hallum upped their target price on Silicon Motion Technology from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Morgan Stanley upgraded Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $59.00 to $88.00 in a research report on Monday, May 6th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $91.13.

Silicon Motion Technology Profile

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.