Heartland Advisors Inc. Has $24.17 Million Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Heartland Advisors Inc. lifted its position in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 447,138 shares of the semiconductor producer's stock after buying an additional 79,383 shares during the quarter. Silicon Motion Technology comprises 1.3% of Heartland Advisors Inc.'s investment portfolio, making the stock its 10th largest holding. Heartland Advisors Inc. owned 1.33% of Silicon Motion Technology worth $24,168,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new stake in Silicon Motion Technology in the third quarter worth approximately $1,826,000. JPMorgan Chase & Co. lifted its stake in shares of Silicon Motion Technology by 21.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 200,016 shares of the semiconductor producer's stock valued at $12,149,000 after purchasing an additional 35,741 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Silicon Motion Technology in the fourth quarter worth $431,000. FMR LLC increased its position in Silicon Motion Technology by 27.7% during the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer's stock worth $136,032,000 after buying an additional 485,862 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Silicon Motion Technology by 30.3% during the third quarter. Stifel Financial Corp now owns 12,175 shares of the semiconductor producer's stock valued at $739,000 after buying an additional 2,833 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company's stock.

Analyst Ratings Changes

SIMO has been the topic of a number of analyst reports. Wedbush reissued an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Needham & Company LLC reiterated a "buy" rating and set a $70.00 price target on shares of Silicon Motion Technology in a report on Friday, February 7th. Finally, StockNews.com cut shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Silicon Motion Technology presently has a consensus rating of "Moderate Buy" and an average target price of $80.63.

Silicon Motion Technology Price Performance

SIMO stock traded up $0.23 on Tuesday, reaching $50.79. 71,997 shares of the company were exchanged, compared to its average volume of 349,166. The firm has a market capitalization of $1.71 billion, a PE ratio of 18.91, a PEG ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a 12 month low of $48.81 and a 12 month high of $85.87. The stock's fifty day moving average price is $54.30 and its 200 day moving average price is $55.25.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. As a group, research analysts expect that Silicon Motion Technology Co. will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were given a $0.50 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.94%. Silicon Motion Technology's dividend payout ratio is currently 74.35%.

Silicon Motion Technology declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor producer to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management 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.