GSA Capital Partners LLP Decreases Stock Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

GSA Capital Partners LLP reduced its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 51.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,079 shares of the semiconductor producer's stock after selling 14,916 shares during the quarter. GSA Capital Partners LLP's holdings in Silicon Motion Technology were worth $855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock valued at $44,000 after purchasing an additional 556 shares during the last quarter. Headlands Technologies LLC bought a new position in Silicon Motion Technology during the second quarter valued at $139,000. LRI Investments LLC purchased a new stake in shares of Silicon Motion Technology in the first quarter valued at $150,000. HBK Sorce Advisory LLC bought a new stake in shares of Silicon Motion Technology in the 1st quarter worth about $204,000. Finally, XTX Topco Ltd bought a new stake in shares of Silicon Motion Technology in the 2nd quarter worth about $220,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SIMO shares. Needham & Company LLC reduced their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Susquehanna reduced their price target on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a report on Friday, November 1st. Craig Hallum decreased their price target on 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 reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. Finally, B. Riley decreased their target price on Silicon Motion Technology from $112.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $81.67.

Silicon Motion Technology Trading Down 5.2 %

Shares of SIMO traded down $2.82 during midday trading on Friday, reaching $51.20. 329,108 shares of the stock were exchanged, compared to its average volume of 247,538. The company has a market capitalization of $1.72 billion, a P/E ratio of 19.39, a PEG ratio of 1.39 and a beta of 0.84. Silicon Motion Technology Co. has a 52 week low of $50.50 and a 52 week high of $85.87. The company's 50 day moving average is $56.81 and its two-hundred day moving average is $67.77.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its earnings results 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. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The company had revenue of $212.40 million for the quarter, compared to analysts' expectations of $209.49 million. During the same period in the prior year, the business earned $0.32 EPS. The firm's quarterly revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Thursday, November 14th. Silicon Motion Technology's dividend payout ratio (DPR) is 75.38%.

About Silicon Motion Technology

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.