Barclays PLC Has $73,000 Stake in Silicon Motion Technology Co. (NASDAQ:SIMO)

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

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in shares of Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after purchasing an additional 251 shares in the last quarter. Blue Trust Inc. lifted its stake in Silicon Motion Technology by 139.5% in the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock valued at $83,000 after buying an additional 795 shares during the period. Van ECK Associates Corp bought a new position in shares of Silicon Motion Technology during the 3rd quarter worth approximately $151,000. XTX Topco Ltd acquired a new stake in shares of Silicon Motion Technology during the 2nd quarter worth approximately $220,000. Finally, Truist Financial Corp bought a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at $236,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Down 2.1 %

Shares of Silicon Motion Technology stock opened at $52.81 on Friday. The company has a market cap of $1.78 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.29 and a beta of 0.80. Silicon Motion Technology Co. has a 52 week low of $48.81 and a 52 week high of $85.87. The business has a 50 day moving average price of $54.69 and a 200-day moving average price of $59.22.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The business had revenue of $212.40 million during 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 period in the prior year, the firm posted $0.32 EPS. As a group, research analysts anticipate that Silicon Motion Technology Co. will post 2.58 EPS for the current year.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology’s payout ratio is 75.38%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SIMO shares. Needham & Company LLC cut their target price on shares of 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. Craig Hallum cut their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. 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 research note on Tuesday, October 8th. Susquehanna dropped their price target 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. Finally, StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and a consensus target price 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.