Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Purchased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 615.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 316,294 shares of the semiconductor producer’s stock after buying an additional 272,103 shares during the quarter. Goldman Sachs Group Inc. owned about 0.96% of Silicon Motion Technology worth $19,379,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in Silicon Motion Technology in the fourth quarter valued at about $718,000. Barometer Capital Management Inc. acquired a new position in Silicon Motion Technology in the fourth quarter valued at about $123,000. Caxton Associates LP acquired a new position in Silicon Motion Technology in the fourth quarter valued at about $3,494,000. Nomura Holdings Inc. acquired a new position in Silicon Motion Technology in the fourth quarter valued at about $3,080,000. Finally, Keeley Teton Advisors LLC lifted its position in Silicon Motion Technology by 132.2% in the fourth quarter. Keeley Teton Advisors LLC now owns 20,875 shares of the semiconductor producer’s stock valued at $1,279,000 after buying an additional 11,885 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Silicon Motion Technology Stock Performance

SIMO stock opened at $80.09 on Thursday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 45.51, a PEG ratio of 0.75 and a beta of 0.89. Silicon Motion Technology Co. has a fifty-two week low of $49.50 and a fifty-two week high of $95.33. The company’s 50 day moving average price is $78.12 and its 200 day moving average price is $71.75.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $189.31 million for the quarter, compared to analyst estimates of $180.23 million. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.78%. Equities analysts forecast that Silicon Motion Technology Co. will post 2.81 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a $0.50 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $2.00 annualized dividend and a yield of 2.50%. Silicon Motion Technology’s dividend payout ratio is currently 113.07%.

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.