Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Bought by Pertento Partners LLP

Pertento Partners LLP lifted its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 31.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,166,914 shares of the semiconductor producer's stock after acquiring an additional 277,462 shares during the period. Silicon Motion Technology accounts for about 5.3% of Pertento Partners LLP's investment portfolio, making the stock its 4th largest position. Pertento Partners LLP owned 3.46% of Silicon Motion Technology worth $63,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SIMO. Advisors Asset Management Inc. increased its position in Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock worth $27,000 after purchasing an additional 251 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 worth $2,183,000 after buying an additional 253 shares during the last quarter. Rhumbline Advisers raised its position in shares of Silicon Motion Technology by 8.7% in the 4th quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer's stock worth $306,000 after buying an additional 453 shares during the period. Inspire Advisors LLC boosted its holdings in Silicon Motion Technology by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer's stock valued at $704,000 after acquiring an additional 467 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock valued at $47,000 after acquiring an additional 484 shares during the period. 78.02% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SIMO. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Silicon Motion Technology in a research note on Friday, February 7th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Finally, StockNews.com lowered shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $80.63.

Silicon Motion Technology Price Performance

SIMO traded up $0.43 during trading hours on Tuesday, reaching $50.99. 227,159 shares of the stock traded hands, compared to its average volume of 349,759. Silicon Motion Technology Co. has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.36 and a beta of 0.71. The firm's fifty day simple moving average is $54.30 and its two-hundred day simple moving average is $55.25.

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

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 annualized dividend and a yield of 3.92%. Silicon Motion Technology's dividend payout ratio is presently 74.35%.

Silicon Motion Technology announced that its board has authorized a stock buyback program on Wednesday, February 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the semiconductor producer to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board 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.