SG Americas Securities LLC Decreases Stake in Silicon Motion Technology Co. (NASDAQ:SIMO)

SG Americas Securities LLC lowered its position in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 91.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,793 shares of the semiconductor producer's stock after selling 31,124 shares during the quarter. SG Americas Securities LLC's holdings in Silicon Motion Technology were worth $151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SIMO. Advisors Asset Management Inc. raised its stake in shares of Silicon Motion Technology by 129.4% in the third 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 period. GAMMA Investing LLC grew its holdings in shares of Silicon Motion Technology by 123.2% in the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock worth $47,000 after purchasing an additional 484 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Silicon Motion Technology by 139.5% in the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer's stock worth $83,000 after purchasing an additional 795 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Silicon Motion Technology in the third quarter worth about $151,000. Finally, Truist Financial Corp bought a new position in shares of Silicon Motion Technology in the second quarter worth about $236,000. Hedge funds and other institutional investors own 78.02% of the company's stock.

Analyst Upgrades and Downgrades

SIMO has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $70.00 price target on shares of Silicon Motion Technology in a report on Friday, February 7th. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd. Craig Hallum cut their price target on shares of Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. StockNews.com cut shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Susquehanna cut their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Silicon Motion Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.63.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock traded up $1.19 during midday trading on Friday, hitting $56.47. 340,774 shares of the company's stock were exchanged, compared to its average volume of 389,838. Silicon Motion Technology Co. has a 12 month low of $48.81 and a 12 month high of $85.87. The firm has a 50-day moving average of $54.49 and a two-hundred day moving average of $56.98. The company has a market cap of $1.90 billion, a PE ratio of 20.99, a P/E/G ratio of 1.34 and a beta of 0.79.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 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 11.59%. As a group, equities analysts expect that Silicon Motion Technology Co. will post 2.91 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Thursday, February 13th. Silicon Motion Technology's payout ratio is 73.98%.

Silicon Motion Technology announced that its board has approved a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

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.