Oddo BHF Asset Management Sas Purchases Shares of 217,500 Silicon Motion Technology Co. (NASDAQ:SIMO)

Oddo BHF Asset Management Sas purchased a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 217,500 shares of the semiconductor producer's stock, valued at approximately $13,211,000. Oddo BHF Asset Management Sas owned approximately 0.65% of Silicon Motion Technology at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Silicon Motion Technology by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer's stock valued at $2,183,000 after purchasing an additional 253 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Silicon Motion Technology during the third quarter worth approximately $5,904,000. Y Intercept Hong Kong Ltd grew its holdings in Silicon Motion Technology by 23.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 10,378 shares of the semiconductor producer's stock worth $630,000 after buying an additional 1,960 shares in the last quarter. XTX Topco Ltd increased its position in Silicon Motion Technology by 73.9% in the 3rd quarter. XTX Topco Ltd now owns 4,715 shares of the semiconductor producer's stock valued at $286,000 after acquiring an additional 2,003 shares during the period. Finally, Stifel Financial Corp raised its stake in Silicon Motion Technology by 30.3% during the 3rd quarter. Stifel Financial Corp now owns 12,175 shares of the semiconductor producer's stock valued at $739,000 after acquiring an additional 2,833 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SIMO. Craig Hallum lowered their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC dropped their price target 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 dropped their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a report on Friday, November 1st. Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $81.67.

Silicon Motion Technology Trading Up 5.4 %

SIMO stock traded up $3.05 during midday trading on Friday, reaching $59.32. The company had a trading volume of 316,027 shares, compared to its average volume of 371,049. The company has a 50 day moving average of $55.61 and a two-hundred day moving average of $64.93. Silicon Motion Technology Co. has a 1 year low of $50.50 and a 1 year high of $85.87. The company has a market capitalization of $2.00 billion, a P/E ratio of 22.47, a PEG ratio of 1.53 and a beta of 0.82.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm had revenue of $212.40 million during the quarter, compared to analysts' expectations of $209.49 million. During the same quarter last year, the firm earned $0.32 earnings per share. The business's revenue for the quarter was up 23.3% on a year-over-year basis. On average, sell-side analysts anticipate that Silicon Motion Technology Co. will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, November 14th. Silicon Motion Technology's dividend payout ratio (DPR) is presently 75.38%.

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.