Nkcfo LLC Takes Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Nkcfo LLC acquired a new stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,500 shares of the semiconductor producer’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its position in Silicon Motion Technology by 161.5% during the first quarter. Acadian Asset Management LLC now owns 1,336,448 shares of the semiconductor producer’s stock worth $102,779,000 after buying an additional 825,394 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of Silicon Motion Technology by 247.0% during the 1st quarter. Farallon Capital Management LLC now owns 855,449 shares of the semiconductor producer’s stock worth $65,818,000 after acquiring an additional 608,949 shares during the period. Reinhart Partners LLC. boosted its position in shares of Silicon Motion Technology by 2.4% in the second quarter. Reinhart Partners LLC. now owns 754,017 shares of the semiconductor producer’s stock worth $61,068,000 after acquiring an additional 17,646 shares during the last quarter. Kodai Capital Management LP purchased a new stake in Silicon Motion Technology in the fourth quarter valued at approximately $44,073,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Silicon Motion Technology in the first quarter valued at approximately $53,676,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $54.97 on Friday. Silicon Motion Technology Co. has a 12-month low of $49.50 and a 12-month high of $85.87. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 0.88 and a beta of 0.84. The firm’s fifty day moving average price is $64.01 and its 200 day moving average price is $72.97.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $210.67 million for the quarter, compared to analyst estimates of $206.75 million. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. Analysts forecast that Silicon Motion Technology Co. will post 2.86 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Thursday, August 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 113.07%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. B. Riley decreased their price target on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Needham & Company LLC lifted their target price on Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a report on Monday, July 8th. Bank of America lowered Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $90.00 to $60.00 in a research note on Friday, August 16th. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Finally, Morgan Stanley decreased their target price on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

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.