Boston Partners Buys 100,033 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Boston Partners raised its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 47.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,402 shares of the semiconductor producer's stock after purchasing an additional 100,033 shares during the quarter. Boston Partners owned 0.92% of Silicon Motion Technology worth $16,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Silicon Motion Technology by 129.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock valued at $27,000 after buying an additional 251 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Silicon Motion Technology by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer's stock worth $2,183,000 after purchasing an additional 253 shares during the last quarter. Rhumbline Advisers increased its position in shares of Silicon Motion Technology by 8.7% during the 4th quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer's stock worth $306,000 after purchasing an additional 453 shares in the last quarter. Inspire Advisors LLC lifted its holdings in Silicon Motion Technology by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer's stock valued at $704,000 after purchasing an additional 467 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Silicon Motion Technology by 123.2% in the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock valued at $47,000 after buying an additional 484 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

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Silicon Motion Technology Price Performance

Shares of NASDAQ SIMO traded down $1.74 during midday trading on Tuesday, hitting $54.76. The stock had a trading volume of 333,796 shares, compared to its average volume of 342,340. Silicon Motion Technology Co. has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The firm has a market cap of $1.84 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.36 and a beta of 0.71. The company's 50-day simple moving average is $54.21 and its 200 day simple moving average is $55.44.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. Equities analysts expect that Silicon Motion Technology Co. will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology declared that its board has initiated a stock buyback program on Wednesday, February 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor producer to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Thursday, February 13th. Silicon Motion Technology's dividend payout ratio is presently 74.35%.

Wall Street Analyst Weigh In

SIMO has been the subject of several recent analyst reports. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. StockNews.com cut Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $70.00 target price on shares of Silicon Motion Technology in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.63.

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.