Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its stake in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 89.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,648 shares of the semiconductor producer's stock after selling 127,985 shares during the period. Royce & Associates LP's holdings in Silicon Motion Technology were worth $890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC raised its holdings in shares of Silicon Motion Technology by 0.6% in 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 in the last quarter. Inspire Advisors LLC boosted its position 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 acquiring an additional 249 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Silicon Motion Technology by 0.5% in 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 during the period. Naples Global Advisors LLC raised its position in shares of Silicon Motion Technology by 3.1% in the 2nd quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer's stock worth $1,410,000 after acquiring an additional 525 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock worth $44,000 after purchasing an additional 556 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Down 0.9 %

SIMO opened at $53.07 on Thursday. Silicon Motion Technology Co. has a 52-week low of $50.50 and a 52-week high of $85.87. The firm's fifty day simple moving average is $56.52 and its two-hundred day simple moving average is $67.35. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.46 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 (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. The company had revenue of $212.40 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. On average, research analysts forecast that Silicon Motion Technology Co. will post 2.59 EPS for the current year.

Silicon Motion Technology Announces Dividend

The firm 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. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Thursday, November 14th. Silicon Motion Technology's dividend payout ratio is presently 75.38%.

Analyst Ratings Changes

SIMO has been the subject of a number of recent research reports. StockNews.com downgraded shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Susquehanna reduced their target price on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a research report on Friday, November 1st. Roth Mkm dropped their price target on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, October 8th. Morgan Stanley reduced 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 report on Monday, September 16th. Finally, Craig Hallum dropped their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Silicon Motion Technology has a consensus 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.