Robeco Institutional Asset Management B.V. Boosts Stake in Silicon Motion Technology Co. (NASDAQ:SIMO)

Robeco Institutional Asset Management B.V. lifted its stake in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 28.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 376,324 shares of the semiconductor producer's stock after buying an additional 83,992 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 1.12% of Silicon Motion Technology worth $22,858,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in Silicon Motion Technology by 0.6% during the 3rd quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer's stock valued at $2,060,000 after purchasing an additional 197 shares during the period. Inspire Advisors LLC increased its holdings in Silicon Motion Technology by 1.9% during the 2nd quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer's stock valued at $1,059,000 after purchasing an additional 249 shares during the period. Sei Investments Co. boosted its position in Silicon Motion Technology by 0.5% during the 2nd quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer's stock valued at $4,559,000 after acquiring an additional 257 shares in the last quarter. Naples Global Advisors LLC boosted its position in Silicon Motion Technology by 3.1% during the 2nd quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer's stock valued at $1,410,000 after acquiring an additional 525 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock valued at $44,000 after acquiring an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company's stock.

Analyst Ratings Changes

SIMO has been the topic of several research reports. StockNews.com cut Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Monday. B. Riley cut their price objective on Silicon Motion Technology from $112.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. Roth Mkm cut their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, October 8th. Finally, Bank of America cut Silicon Motion Technology from a "buy" rating to an "underperform" rating and cut their price objective for the company from $90.00 to $60.00 in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $81.67.

Silicon Motion Technology Stock Performance

Shares of SIMO traded up $1.39 during mid-day trading on Wednesday, reaching $55.33. The company had a trading volume of 251,645 shares, compared to its average volume of 376,078. The firm has a 50-day moving average price of $57.87 and a 200 day moving average price of $68.77. Silicon Motion Technology Co. has a 52 week low of $51.92 and a 52 week high of $85.87. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.32 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share 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 analyst estimates of $209.49 million. During the same period in the previous year, the business earned $0.32 EPS. The firm's revenue for the quarter was up 23.3% on a year-over-year basis. As a group, research analysts forecast that Silicon Motion Technology Co. will post 2.78 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 Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 14th. This represents a $2.00 dividend on an annualized basis and a yield of 3.61%. Silicon Motion Technology's payout ratio is currently 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.