Pertento Partners LLP Acquires 277,462 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Pertento Partners LLP increased its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 31.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,166,914 shares of the semiconductor producer's stock after buying an additional 277,462 shares during the quarter. Silicon Motion Technology comprises approximately 5.3% of Pertento Partners LLP's investment portfolio, making the stock its 4th biggest holding. Pertento Partners LLP owned 3.46% of Silicon Motion Technology worth $63,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in shares of Silicon Motion Technology by 129.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock valued at $27,000 after acquiring an additional 251 shares during the last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 484 shares during the period. Blue Trust Inc. boosted its holdings in Silicon Motion Technology by 64.7% in the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer's stock valued at $122,000 after purchasing an additional 883 shares during the last quarter. Choreo LLC acquired a new stake in Silicon Motion Technology during the 4th quarter worth about $209,000. Finally, Virtu Financial LLC purchased a new position in shares of Silicon Motion Technology during the 4th quarter valued at about $208,000. Hedge funds and other institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock traded up $0.71 during trading on Wednesday, reaching $51.70. The company had a trading volume of 78,409 shares, compared to its average volume of 400,941. The firm's 50-day simple moving average is $54.27 and its 200 day simple moving average is $55.18. The firm has a market capitalization of $1.74 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a 1-year low of $48.81 and a 1-year high of $85.87.

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 the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. Analysts anticipate that Silicon Motion Technology Co. will post 3.08 EPS for the current year.

Silicon Motion Technology announced that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor producer to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Silicon Motion Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.87%. Silicon Motion Technology's dividend payout ratio (DPR) is presently 74.35%.

Analyst Upgrades and Downgrades

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

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.