Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,215 shares of the semiconductor producer’s stock after acquiring an additional 707 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Silicon Motion Technology were worth $317,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Morse Asset Management Inc acquired a new position in shares of Silicon Motion Technology during the 1st quarter worth approximately $700,000. Harbor Capital Advisors Inc. lifted its position in Silicon Motion Technology by 95.7% in the third quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock valued at $7,793,000 after buying an additional 62,733 shares during the last quarter. National Bank of Canada FI lifted its stake in 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 acquiring an additional 46,400 shares in the last quarter. Resolute Capital Asset Partners LLC grew its holdings in shares of Silicon Motion Technology by 44.4% in the second quarter. Resolute Capital Asset Partners LLC now owns 65,000 shares of the semiconductor producer’s stock valued at $5,264,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Silicon Motion Technology by 41.9% during the 2nd quarter. Renaissance Technologies LLC now owns 113,879 shares of the semiconductor producer’s stock worth $9,223,000 after buying an additional 33,600 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Trading Down 0.9 %

SIMO stock opened at $53.07 on Thursday. The firm has a market cap of $1.79 billion, a PE ratio of 20.10, a PEG ratio of 1.39 and a beta of 0.84. Silicon Motion Technology Co. has a 1 year low of $50.50 and a 1 year high of $85.87. The company has a fifty day simple moving average of $56.63 and a 200 day simple moving average of $67.45.

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

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 75.76%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SIMO shares. StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm lowered 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. Craig Hallum decreased their price objective 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. Morgan Stanley lowered their price objective on 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. Finally, Bank of America cut shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and reduced their target price for the company from $90.00 to $60.00 in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Silicon Motion Technology currently has an average 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.