Cerity Partners LLC Invests $1.83 Million in Silicon Motion Technology Co. (NASDAQ:SIMO)

Cerity Partners LLC acquired a new stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,069 shares of the semiconductor producer’s stock, valued at approximately $1,826,000. Cerity Partners LLC owned about 0.09% of Silicon Motion Technology as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its position in Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after buying an additional 251 shares in the last quarter. Blue Trust Inc. raised its position in 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 last quarter. Headlands Technologies LLC acquired a new position in Silicon Motion Technology in the second quarter valued at $139,000. Van ECK Associates Corp bought a new stake in Silicon Motion Technology in the third quarter valued at $151,000. Finally, XTX Topco Ltd acquired a new position in shares of Silicon Motion Technology during the second quarter worth approximately $220,000. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Up 1.7 %

Shares of SIMO opened at $53.95 on Tuesday. Silicon Motion Technology Co. has a twelve month low of $50.50 and a twelve month high of $85.87. The company has a market capitalization of $1.82 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.44 and a beta of 0.84. The firm has a 50 day moving average of $56.12 and a 200 day moving average of $65.98.

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

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SIMO shares. B. Riley reduced their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Roth Mkm decreased their target price 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. StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

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.