Public Employees Retirement System of Ohio Takes $5.90 Million Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Public Employees Retirement System of Ohio acquired a new stake in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 97,206 shares of the semiconductor producer's stock, valued at approximately $5,904,000. Public Employees Retirement System of Ohio owned about 0.29% of Silicon Motion Technology at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Erste Asset Management GmbH acquired a new position in Silicon Motion Technology during the 3rd quarter worth $40,331,000. FMR LLC boosted its position in Silicon Motion Technology by 27.7% in the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer's stock valued at $136,032,000 after buying an additional 485,862 shares in the last quarter. Reinhart Partners LLC. boosted its position in Silicon Motion Technology by 43.3% in the third quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer's stock valued at $65,622,000 after buying an additional 326,358 shares in the last quarter. AIGH Capital Management LLC acquired a new position in Silicon Motion Technology in the second quarter valued at about $22,272,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Silicon Motion Technology during the second quarter worth approximately $21,208,000. Institutional investors and hedge funds own 78.02% of the company's stock.

Wall Street Analyst Weigh In

SIMO has been the topic of a number of research reports. Wedbush reiterated an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. Needham & Company LLC lowered their target price on shares of Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Morgan Stanley lowered their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. StockNews.com downgraded shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Roth Mkm lowered their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.67.

Silicon Motion Technology Price Performance

SIMO stock traded up $3.05 during trading hours on Friday, reaching $59.32. The stock had a trading volume of 316,070 shares, compared to its average volume of 371,049. The stock has a 50-day simple moving average of $55.57 and a 200 day simple moving average of $64.71. The stock has a market capitalization of $2.00 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. Silicon Motion Technology Co. has a fifty-two week low of $50.50 and a fifty-two week high of $85.87.

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

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.50 per share. 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 is 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.