Silicon Motion Technology Co. (NASDAQ:SIMO) Stock Holdings Boosted by Blue Trust Inc.

Blue Trust Inc. grew its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 64.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,248 shares of the semiconductor producer’s stock after purchasing an additional 883 shares during the period. Blue Trust Inc.’s holdings in Silicon Motion Technology were worth $122,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after buying an additional 251 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after acquiring an additional 484 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Silicon Motion Technology during the third quarter worth $151,000. Truist Financial Corp purchased a new stake in shares of Silicon Motion Technology during the second quarter valued at $236,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Silicon Motion Technology by 46.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,925 shares of the semiconductor producer’s stock valued at $238,000 after purchasing an additional 1,244 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Stock Down 1.9 %

Shares of SIMO stock opened at $55.57 on Friday. Silicon Motion Technology Co. has a 12-month low of $48.81 and a 12-month high of $85.87. The firm has a fifty day moving average of $54.57 and a 200-day moving average of $57.65. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.30 and a beta of 0.79.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. On average, equities analysts expect that Silicon Motion Technology Co. will post 2.58 EPS for the current year.

Silicon Motion Technology declared that its board has authorized a share repurchase program on Wednesday, February 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the semiconductor producer to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.00 annualized dividend and a yield of 3.60%. Silicon Motion Technology’s dividend payout ratio is 75.38%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SIMO. Susquehanna dropped their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Friday, November 1st. Craig Hallum dropped their price target on 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. Needham & Company LLC lowered their target price on 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. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.