Reinhart Partners LLC. Acquires 55,363 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Reinhart Partners LLC. increased its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,135,738 shares of the semiconductor producer's stock after buying an additional 55,363 shares during the quarter. Silicon Motion Technology accounts for about 2.3% of Reinhart Partners LLC.'s investment portfolio, making the stock its 17th largest position. Reinhart Partners LLC. owned approximately 3.37% of Silicon Motion Technology worth $61,387,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in shares of Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock worth $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 in the last quarter. Blue Trust Inc. grew its holdings in Silicon Motion Technology by 139.5% during the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer's stock valued at $83,000 after purchasing an additional 795 shares during the period. Headlands Technologies LLC purchased a new stake in Silicon Motion Technology in the second quarter worth about $139,000. Finally, Van ECK Associates Corp bought a new position in shares of Silicon Motion Technology in the third quarter worth about $151,000. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Down 2.0 %

NASDAQ SIMO traded down $1.06 during trading on Monday, hitting $51.90. 262,795 shares of the stock traded hands, compared to its average volume of 206,114. The company has a market capitalization of $1.75 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. Silicon Motion Technology Co. has a 12-month low of $50.50 and a 12-month high of $85.87. The firm has a 50-day simple moving average of $54.91 and a 200-day simple moving average of $60.97.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. Silicon Motion Technology's revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts predict that Silicon Motion Technology Co. will post 2.59 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, August 7th. Silicon Motion Technology's payout ratio is 75.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Susquehanna cut their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating for the company in a research note on Friday, November 1st. Needham & Company LLC dropped their price target on shares of Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Morgan Stanley decreased their price objective on shares of Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. Roth Mkm decreased their price target on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, October 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $81.67.

About Silicon Motion Technology

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.