Deltec Asset Management LLC Acquires New Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Deltec Asset Management LLC acquired a new position in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,550 shares of the semiconductor producer's stock, valued at approximately $408,000.

Several other large investors have also made changes to their positions in the business. Advisors Asset Management Inc. increased its position 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 worth $27,000 after buying an additional 251 shares during the period. GAMMA Investing LLC grew its stake in shares of Silicon Motion Technology by 123.2% in the fourth 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. Blue Trust Inc. increased its position in Silicon Motion Technology by 139.5% during the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer's stock worth $83,000 after acquiring an additional 795 shares during the period. Van ECK Associates Corp acquired a new position in Silicon Motion Technology during the 3rd quarter valued at $151,000. Finally, Truist Financial Corp bought a new stake in Silicon Motion Technology in the 2nd quarter valued at $236,000. Institutional investors and hedge funds own 78.02% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SIMO shares. Craig Hallum reduced their target price on shares of 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. Wedbush reissued an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Susquehanna lowered their price objective on 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. StockNews.com raised Silicon Motion Technology from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $70.00 price target on shares of Silicon Motion Technology in a report on Friday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, Silicon Motion Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.63.

Silicon Motion Technology Trading Down 5.0 %

NASDAQ SIMO traded down $2.77 during trading hours on Friday, reaching $52.80. 579,458 shares of the company's stock were exchanged, compared to its average volume of 408,092. The firm has a fifty day moving average of $54.62 and a 200-day moving average of $57.47. Silicon Motion Technology Co. has a one year low of $48.81 and a one year high of $85.87. The stock has a market cap of $1.78 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.79.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.59% and a net margin of 11.29%. As a group, research analysts forecast that Silicon Motion Technology Co. will post 2.91 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th will be paid a $0.50 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.79%. Silicon Motion Technology's dividend payout ratio (DPR) is currently 73.98%.

Silicon Motion Technology announced that its Board of Directors has approved a share buyback program on Wednesday, February 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor producer to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.