Atria Investments Inc Has $334,000 Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Atria Investments Inc trimmed its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 9.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,498 shares of the semiconductor producer’s stock after selling 571 shares during the period. Atria Investments Inc’s holdings in Silicon Motion Technology were worth $334,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SIMO. Blue Trust Inc. increased its stake in shares of Silicon Motion Technology by 3,971.4% in the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 556 shares in the last quarter. Headlands Technologies LLC bought a new stake in Silicon Motion Technology during the 2nd quarter worth about $139,000. LRI Investments LLC acquired a new stake in Silicon Motion Technology in the 1st quarter valued at about $150,000. Van ECK Associates Corp bought a new position in shares of Silicon Motion Technology in the third quarter worth about $151,000. Finally, XTX Topco Ltd acquired a new position in shares of Silicon Motion Technology during the second quarter worth approximately $220,000. Institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SIMO shares. Craig Hallum lowered their price target on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Susquehanna dropped their target price on 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. 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 report on Monday, September 16th. Needham & Company LLC dropped their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, B. Riley cut their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $54.93 on Friday. Silicon Motion Technology Co. has a one year low of $50.50 and a one year high of $85.87. The stock has a market cap of $1.85 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.46 and a beta of 0.84. The stock has a 50-day moving average of $56.45 and a 200-day moving average of $67.26.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. As a group, research analysts anticipate that Silicon Motion Technology Co. will post 2.59 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio is 75.38%.

About Silicon Motion Technology

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.