Orion Portfolio Solutions LLC Purchases 7,840 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Orion Portfolio Solutions LLC raised its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 95.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,090 shares of the semiconductor producer's stock after acquiring an additional 7,840 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Silicon Motion Technology were worth $870,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SIMO. GAMMA Investing LLC lifted its position in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock valued at $47,000 after purchasing an additional 484 shares during the last quarter. Blue Trust Inc. raised its position in shares of Silicon Motion Technology by 64.7% during the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer's stock worth $122,000 after buying an additional 883 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Silicon Motion Technology during the 4th quarter worth about $208,000. Choreo LLC bought a new stake in shares of Silicon Motion Technology during the 4th quarter worth about $209,000. Finally, TradeLink Capital LLC bought a new stake in shares of Silicon Motion Technology in the 4th quarter worth approximately $228,000. 78.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on SIMO shares. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 target price on shares of Silicon Motion Technology in a report on Friday, February 7th. StockNews.com downgraded shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $80.63.

Silicon Motion Technology Price Performance

SIMO traded down $1.58 on Thursday, reaching $40.77. 74,922 shares of the company traded hands, compared to its average volume of 424,440. The stock's 50 day moving average price is $52.65 and its 200-day moving average price is $54.47. Silicon Motion Technology Co. has a 52-week low of $37.21 and a 52-week high of $85.87. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.36 and a beta of 0.81.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. As a group, equities research analysts forecast that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, August 7th. Silicon Motion Technology's payout ratio is 74.35%.

Silicon Motion Technology declared that its board has approved a stock buyback plan on Wednesday, February 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor producer to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.