Barclays PLC Decreases Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Barclays PLC trimmed its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 60.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,199 shares of the semiconductor producer’s stock after selling 1,833 shares during the quarter. Barclays PLC’s holdings in Silicon Motion Technology were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC raised its stake in Silicon Motion Technology by 27.7% in the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after acquiring an additional 485,862 shares during the period. Reinhart Partners LLC. increased its stake in shares of Silicon Motion Technology by 43.3% in the third quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock worth $65,622,000 after purchasing an additional 326,358 shares in the last quarter. Millennium Management LLC raised its position in shares of Silicon Motion Technology by 15.3% in the second quarter. Millennium Management LLC now owns 791,823 shares of the semiconductor producer’s stock valued at $64,130,000 after purchasing an additional 105,084 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Silicon Motion Technology during the 3rd quarter valued at approximately $40,331,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Silicon Motion Technology by 36.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer’s stock worth $34,671,000 after buying an additional 152,467 shares during the period. 78.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SIMO has been the topic of several recent research reports. Needham & Company LLC dropped their target price on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Roth Mkm reduced their target price on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Morgan Stanley decreased their price target 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. Finally, Susquehanna cut their price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Stock Down 1.7 %

Silicon Motion Technology stock opened at $55.17 on Friday. Silicon Motion Technology Co. has a 52-week low of $50.50 and a 52-week high of $85.87. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.61 and a beta of 0.80. The firm’s fifty day moving average is $54.91 and its 200 day moving average is $61.41.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, beating 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 return on equity of 11.52% and a net margin of 10.90%. Silicon Motion Technology’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, equities research analysts anticipate that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio is currently 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.