Aristides Capital LLC Acquires New Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Aristides Capital LLC bought a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 17,000 shares of the semiconductor producer’s stock, valued at approximately $1,377,000. Aristides Capital LLC owned 0.05% of Silicon Motion Technology at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in Silicon Motion Technology by 154.9% during the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after acquiring an additional 333 shares during the period. Blue Trust Inc. grew its stake in shares of Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 556 shares during the period. Barometer Capital Management Inc. purchased a new position in shares of Silicon Motion Technology in the 4th quarter valued at about $123,000. Headlands Technologies LLC acquired a new stake in shares of Silicon Motion Technology in the second quarter valued at about $139,000. Finally, LRI Investments LLC purchased a new stake in Silicon Motion Technology during the first quarter worth about $150,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $60.74 on Tuesday. The firm’s 50-day moving average is $62.10 and its two-hundred day moving average is $72.50. The stock has a market capitalization of $2.05 billion, a P/E ratio of 34.51, a P/E/G ratio of 0.92 and a beta of 0.84. Silicon Motion Technology Co. has a 12-month low of $50.43 and a 12-month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $210.67 million during the quarter, compared to analysts’ expectations of $206.75 million. Silicon Motion Technology had a net margin of 10.14% and a return on equity of 10.31%. Silicon Motion Technology’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. As a group, analysts forecast that Silicon Motion Technology Co. will post 2.8 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 3.29%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 113.07%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Bank of America cut shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their target price for the company from $90.00 to $60.00 in a report on Friday, August 16th. B. Riley decreased their target price on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Morgan Stanley decreased their price objective on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Needham & Company LLC raised their target price on shares of Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, Silicon Motion Technology currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Silicon Motion Technology Company 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.