Advisors Asset Management Inc. Increases Stock Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Advisors Asset Management Inc. increased its position in Silicon Motion Technology Co. (NASDAQ:SIMO) by 129.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 445 shares of the semiconductor producer’s stock after acquiring an additional 251 shares during the quarter. Advisors Asset Management Inc.’s holdings in Silicon Motion Technology were worth $27,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SIMO. SG Americas Securities LLC boosted its holdings in Silicon Motion Technology by 0.6% in the 3rd quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer’s stock valued at $2,060,000 after purchasing an additional 197 shares during the period. Inspire Advisors LLC raised its position in shares of Silicon Motion Technology by 1.9% in the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock worth $1,059,000 after buying an additional 249 shares in the last quarter. Sei Investments Co. boosted its stake in Silicon Motion Technology by 0.5% during the second quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock valued at $4,559,000 after buying an additional 257 shares during the period. Naples Global Advisors LLC grew its position in Silicon Motion Technology by 3.1% during the second quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock worth $1,410,000 after buying an additional 525 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Silicon Motion Technology by 3,971.4% in the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Up 1.2 %

Shares of SIMO opened at $53.07 on Friday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 20.10, a PEG ratio of 1.42 and a beta of 0.84. Silicon Motion Technology Co. has a twelve month low of $50.50 and a twelve month high of $85.87. The firm has a fifty day simple moving average of $56.13 and a two-hundred day simple moving average of $66.21.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The company had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. During the same period in the prior year, the business posted $0.32 earnings per share. Silicon Motion Technology’s revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.77%. Silicon Motion Technology’s dividend payout ratio is presently 75.76%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SIMO. Morgan Stanley dropped their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Craig Hallum dropped their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Roth Mkm decreased their price target on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Needham & Company LLC dropped their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, StockNews.com lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

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.