Fmr LLC Has $136.03 Million Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

FMR LLC increased its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 27.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,239,574 shares of the semiconductor producer's stock after acquiring an additional 485,862 shares during the period. FMR LLC owned approximately 6.65% of Silicon Motion Technology worth $136,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC bought a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at approximately $1,826,000. Harbor Capital Advisors Inc. boosted its position in Silicon Motion Technology by 95.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer's stock valued at $7,793,000 after purchasing an additional 62,733 shares during the period. National Bank of Canada FI increased its position in Silicon Motion Technology by 6,186.7% in the second quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer's stock worth $3,766,000 after buying an additional 46,400 shares during the period. Resolute Capital Asset Partners LLC increased its position 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 worth $5,264,000 after buying an additional 20,000 shares during the period. Finally, 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 buying an additional 33,600 shares during the period. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock traded down $0.96 during mid-day trading on Wednesday, hitting $56.20. The company's stock had a trading volume of 386,834 shares, compared to its average volume of 374,331. The firm's 50 day moving average is $56.10 and its 200 day moving average is $65.77. The company has a market cap of $1.89 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82. Silicon Motion Technology Co. has a 52-week low of $50.50 and a 52-week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The firm had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The business's revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. As a group, analysts forecast 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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, November 14th. Silicon Motion Technology's dividend payout ratio (DPR) is presently 75.38%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Needham & Company LLC decreased their price target on Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Wedbush reaffirmed an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. StockNews.com raised Silicon Motion Technology from a "hold" rating to a "buy" rating in a research note on Tuesday. Roth Mkm decreased their target price on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, October 8th. Finally, Morgan Stanley reduced their target price on Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.