Easterly Investment Partners LLC reduced its stake in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 204,931 shares of the semiconductor producer's stock after selling 20,861 shares during the period. Easterly Investment Partners LLC owned approximately 0.61% of Silicon Motion Technology worth $11,077,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. LPL Financial LLC raised its stake in shares of Silicon Motion Technology by 34.3% in the 4th quarter. LPL Financial LLC now owns 7,643 shares of the semiconductor producer's stock valued at $413,000 after acquiring an additional 1,950 shares during the period. Sei Investments Co. raised its position in Silicon Motion Technology by 7.1% in the fourth quarter. Sei Investments Co. now owns 58,823 shares of the semiconductor producer's stock valued at $3,179,000 after purchasing an additional 3,875 shares during the period. Virtu Financial LLC acquired a new position in Silicon Motion Technology during the fourth quarter worth $208,000. Boston Partners boosted its position in shares of Silicon Motion Technology by 47.3% during the fourth quarter. Boston Partners now owns 311,402 shares of the semiconductor producer's stock worth $16,831,000 after buying an additional 100,033 shares during the period. Finally, Inspire Advisors LLC grew its stake in shares of Silicon Motion Technology by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer's stock valued at $704,000 after buying an additional 467 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company's stock.
Silicon Motion Technology Stock Down 1.0 %
NASDAQ SIMO traded down $0.49 on Monday, hitting $50.24. 99,229 shares of the stock were exchanged, compared to its average volume of 349,695. Silicon Motion Technology Co. has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The company has a 50-day moving average price of $54.33 and a 200-day moving average price of $55.30. The company has a market cap of $1.69 billion, a PE ratio of 18.59, a PEG ratio of 1.36 and a beta of 0.71.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. As a group, equities research analysts predict that Silicon Motion Technology Co. will post 3.08 EPS for the current fiscal year.
Silicon Motion Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.98%. Silicon Motion Technology's dividend payout ratio is currently 74.35%.
Silicon Motion Technology announced that its board has authorized a stock repurchase program on Wednesday, February 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the semiconductor producer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price target on shares of Silicon Motion Technology in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.63.
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About Silicon Motion Technology
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Free Report)
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.
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