Silicon Motion Technology Co. (NASDAQ:SIMO) is Easterly Investment Partners LLC's 8th Largest Position

Easterly Investment Partners LLC lowered its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,264 shares of the semiconductor producer's stock after selling 27,133 shares during the period. Silicon Motion Technology comprises approximately 1.6% of Easterly Investment Partners LLC's holdings, making the stock its 8th largest holding. Easterly Investment Partners LLC owned about 0.65% of Silicon Motion Technology worth $17,758,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in Silicon Motion Technology by 154.9% during the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer's stock worth $34,000 after buying an additional 333 shares during the period. Blue Trust Inc. lifted its stake 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 worth $44,000 after purchasing an additional 556 shares during the last quarter. Assetmark Inc. boosted its position in Silicon Motion Technology by 34.5% during the fourth quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer's stock valued at $82,000 after purchasing an additional 342 shares in the last quarter. Barometer Capital Management Inc. purchased a new position in Silicon Motion Technology in the fourth quarter valued at about $123,000. Finally, LRI Investments LLC bought a new position in Silicon Motion Technology in the first quarter worth about $150,000. Hedge funds and other institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Trading Down 1.1 %

NASDAQ SIMO traded down $0.73 on Friday, hitting $64.07. 672,216 shares of the company's stock traded hands, compared to its average volume of 416,982. The firm has a market capitalization of $2.16 billion, a PE ratio of 36.40, a P/E/G ratio of 0.59 and a beta of 0.86. Silicon Motion Technology Co. has a 1-year low of $49.50 and a 1-year high of $85.87. The firm's 50-day moving average price is $73.03 and its two-hundred day moving average price is $74.46.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. The firm had revenue of $210.67 million for the quarter, compared to analyst estimates of $206.75 million. During the same period last year, the company earned $0.33 earnings per share. Silicon Motion Technology's revenue for the quarter was up 50.1% compared to the same quarter last year. On average, research analysts anticipate that Silicon Motion Technology Co. will post 2.86 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, August 8th. Silicon Motion Technology's payout ratio is 113.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SIMO. Wedbush reaffirmed an "outperform" rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research report on Friday, May 3rd. Morgan Stanley raised Silicon Motion Technology from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $59.00 to $88.00 in a research report on Monday, May 6th. Bank of America cut Silicon Motion Technology from a "buy" rating to an "underperform" rating and lowered their price objective for the stock from $90.00 to $60.00 in a research report on Friday, August 16th. Needham & Company LLC upped their target price on Silicon Motion Technology from $85.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, July 8th. Finally, Susquehanna raised their price target on Silicon Motion Technology from $100.00 to $110.00 and gave the stock a "positive" rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.56.

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.

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