Harbor Capital Advisors Inc. Decreases Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Harbor Capital Advisors Inc. lowered its stake in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 29.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 91,043 shares of the semiconductor producer's stock after selling 37,256 shares during the quarter. Harbor Capital Advisors Inc. owned 0.27% of Silicon Motion Technology worth $4,921,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in shares of Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock worth $27,000 after purchasing an additional 251 shares in the last quarter. GAMMA Investing LLC increased its stake in Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock worth $47,000 after buying an additional 484 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 795 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Silicon Motion Technology in the second quarter valued at approximately $139,000. Finally, XTX Topco Ltd acquired a new stake in shares of Silicon Motion Technology in the second quarter worth approximately $220,000. Hedge funds and other institutional investors own 78.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SIMO shares. Roth Mkm lowered their target price on shares of 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. Needham & Company LLC lowered their price target on shares of Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Morgan Stanley cut their price objective 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. Craig Hallum dropped their price target on Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Finally, Susquehanna reduced their price objective 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. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.67.

Silicon Motion Technology Stock Down 4.0 %

NASDAQ:SIMO traded down $2.21 on Friday, reaching $52.96. The company's stock had a trading volume of 206,520 shares, compared to its average volume of 196,667. Silicon Motion Technology Co. has a 12-month low of $50.50 and a 12-month high of $85.87. The stock has a 50 day moving average price of $54.91 and a 200 day moving average price of $61.10. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $209.49 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. Silicon Motion Technology's revenue for the quarter was up 23.3% compared to the same quarter last year. Equities research analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.78%. Silicon Motion Technology's payout ratio is presently 75.76%.

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.