Sei Investments Co. Grows Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Sei Investments Co. boosted its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,296 shares of the semiconductor producer’s stock after acquiring an additional 257 shares during the quarter. Sei Investments Co. owned about 0.17% of Silicon Motion Technology worth $4,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in Silicon Motion Technology by 161.5% in the 1st quarter. Acadian Asset Management LLC now owns 1,336,448 shares of the semiconductor producer’s stock worth $102,779,000 after acquiring an additional 825,394 shares during the period. Farallon Capital Management LLC boosted its holdings in Silicon Motion Technology by 247.0% in the 1st quarter. Farallon Capital Management LLC now owns 855,449 shares of the semiconductor producer’s stock worth $65,818,000 after acquiring an additional 608,949 shares during the period. Reinhart Partners LLC. raised its position in shares of Silicon Motion Technology by 2.4% in the 2nd quarter. Reinhart Partners LLC. now owns 754,017 shares of the semiconductor producer’s stock valued at $61,068,000 after purchasing an additional 17,646 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Silicon Motion Technology in the 1st quarter valued at approximately $53,676,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Silicon Motion Technology by 615.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 316,294 shares of the semiconductor producer’s stock valued at $19,379,000 after purchasing an additional 272,103 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

SIMO has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on 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. B. Riley cut 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. Needham & Company LLC upped their target price on Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Bank of America lowered Silicon Motion Technology from a “buy” rating to an “underperform” rating and cut their target price for the company from $90.00 to $60.00 in a research report on Friday, August 16th. Finally, StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Silicon Motion Technology Trading Down 1.9 %

SIMO stock opened at $59.57 on Wednesday. The firm has a market cap of $2.01 billion, a P/E ratio of 33.85, a P/E/G ratio of 0.97 and a beta of 0.84. The stock’s 50 day simple moving average is $61.79 and its 200 day simple moving average is $72.43. 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 issued its quarterly earnings data on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $210.67 million during the quarter, compared to the consensus estimate of $206.75 million. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. The firm’s revenue was up 50.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, research analysts forecast that Silicon Motion Technology Co. will post 2.8 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.00 dividend on an annualized basis and a yield of 3.36%. Silicon Motion Technology’s 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.