Silicon Motion Technology Co. (NASDAQ:SIMO) Stock Position Lifted by Stifel Financial Corp

Stifel Financial Corp boosted its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 30.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,175 shares of the semiconductor producer’s stock after buying an additional 2,833 shares during the quarter. Stifel Financial Corp’s holdings in Silicon Motion Technology were worth $739,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Cerity Partners LLC acquired a new position in shares of Silicon Motion Technology in the third quarter worth $1,826,000. Harbor Capital Advisors Inc. increased its position in Silicon Motion Technology by 95.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock worth $7,793,000 after purchasing an additional 62,733 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Silicon Motion Technology by 6,186.7% during the 2nd quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer’s stock worth $3,766,000 after purchasing an additional 46,400 shares in the last quarter. FMR LLC lifted its holdings in shares of Silicon Motion Technology by 27.7% during the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after buying an additional 485,862 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC grew its stake in shares of Silicon Motion Technology by 44.4% in the 2nd quarter. Resolute Capital Asset Partners LLC now owns 65,000 shares of the semiconductor producer’s stock valued at $5,264,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SIMO shares. Morgan Stanley reduced their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Silicon Motion Technology in a report on Monday. Craig Hallum decreased their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Needham & Company LLC cut their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Trading Up 0.7 %

SIMO opened at $56.49 on Wednesday. Silicon Motion Technology Co. has a 1-year low of $50.50 and a 1-year high of $85.87. The business has a 50 day moving average of $55.16 and a 200-day moving average of $63.66. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.61 and a beta of 0.82.

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

Silicon Motion Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.50 dividend. The ex-dividend date was Thursday, November 14th. This represents a $2.00 annualized dividend and a yield of 3.54%. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.76%.

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.