Silicon Motion Technology Co. (NASDAQ:SIMO) Stake Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 21.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,016 shares of the semiconductor producer’s stock after purchasing an additional 35,741 shares during the quarter. JPMorgan Chase & Co. owned 0.59% of Silicon Motion Technology worth $12,149,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in shares of Silicon Motion Technology by 29.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 11,788 shares of the semiconductor producer’s stock worth $955,000 after purchasing an additional 2,714 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Silicon Motion Technology during the second quarter worth $139,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Silicon Motion Technology during the 2nd quarter valued at about $365,000. Envestnet Asset Management Inc. boosted its holdings in Silicon Motion Technology by 9.9% during the second quarter. Envestnet Asset Management Inc. now owns 55,312 shares of the semiconductor producer’s stock valued at $4,480,000 after purchasing an additional 4,963 shares in the last quarter. Finally, Inspire Advisors LLC grew its position in Silicon Motion Technology by 1.9% in the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock valued at $1,059,000 after acquiring an additional 249 shares during the period. 78.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SIMO shares. Morgan Stanley dropped 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 report on Monday, September 16th. Needham & Company LLC cut their target price on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a research note 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. Craig Hallum dropped their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Susquehanna reduced their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Stock Down 4.0 %

SIMO stock opened at $52.96 on Friday. 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 cap of $1.78 billion, a P/E ratio of 20.06, a PEG ratio of 1.61 and a beta of 0.80. The business has a fifty day moving average of $54.91 and a 200-day moving average of $61.10.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The firm had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.50 dividend. The ex-dividend date is Thursday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 3.78%. 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.