Cerity Partners LLC Makes New $1.83 Million Investment in Silicon Motion Technology Co. (NASDAQ:SIMO)

Cerity Partners LLC bought a new stake in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,069 shares of the semiconductor producer's stock, valued at approximately $1,826,000. Cerity Partners LLC owned approximately 0.09% of Silicon Motion Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its position in Silicon Motion Technology by 95.7% in the 3rd 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 shares of Silicon Motion Technology by 6,186.7% during the second quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer's stock valued at $3,766,000 after acquiring an additional 46,400 shares during the period. Resolute Capital Asset Partners LLC boosted its holdings in 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 acquiring an additional 20,000 shares during the last quarter. Renaissance Technologies LLC increased its position in Silicon Motion Technology by 41.9% in the second quarter. Renaissance Technologies LLC now owns 113,879 shares of the semiconductor producer's stock worth $9,223,000 after purchasing an additional 33,600 shares during the period. Finally, Blue Trust Inc. raised its holdings in Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock worth $44,000 after purchasing an additional 556 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company's stock.

Silicon Motion Technology Stock Performance

SIMO stock traded up $3.21 during midday trading on Tuesday, hitting $57.16. 527,932 shares of the company's stock were exchanged, compared to its average volume of 374,277. Silicon Motion Technology Co. has a one year low of $50.50 and a one year high of $85.87. The stock's fifty day moving average price is $56.12 and its 200-day moving average price is $65.84. The company has a market cap of $1.93 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. The business had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. Silicon Motion Technology's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. On average, analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current year.

Silicon Motion Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.50%. Silicon Motion Technology's dividend payout ratio (DPR) is 75.38%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SIMO. B. Riley reduced 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 note on Monday, August 5th. Wedbush reaffirmed an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. Bank of America cut shares of Silicon Motion Technology from a "buy" rating to an "underperform" rating and dropped their target price for the company from $90.00 to $60.00 in a research report on Friday, August 16th. Craig Hallum reduced 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. Finally, 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. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $81.67.

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.