Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 21.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 200,016 shares of the semiconductor producer's stock after buying an additional 35,741 shares during the quarter. JPMorgan Chase & Co. owned 0.59% of Silicon Motion Technology worth $12,149,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Erste Asset Management GmbH bought a new position in Silicon Motion Technology in the third quarter worth approximately $40,331,000. FMR LLC grew its stake in Silicon Motion Technology by 27.7% in the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer's stock worth $136,032,000 after purchasing an additional 485,862 shares in the last quarter. Reinhart Partners LLC. grew its stake in Silicon Motion Technology by 43.3% in the third quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer's stock worth $65,622,000 after purchasing an additional 326,358 shares in the last quarter. Hood River Capital Management LLC bought a new position in Silicon Motion Technology in the second quarter worth approximately $21,208,000. Finally, Oddo BHF Asset Management Sas bought a new position in Silicon Motion Technology in the third quarter worth approximately $13,211,000. Institutional investors own 78.02% of the company's stock.

Analysts Set New Price Targets

SIMO has been the topic of several research analyst reports. Craig Hallum dropped their price objective on 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. StockNews.com upgraded Silicon Motion Technology from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Needham & Company LLC lowered their target price on Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating for the company in a report on Friday, November 1st. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a report on Monday, December 23rd. Finally, Susquehanna lowered their target price on Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Silicon Motion Technology has an average rating of "Moderate Buy" and a consensus price target of $81.67.

Silicon Motion Technology Trading Down 4.0 %

Shares of SIMO traded down $2.21 during midday trading on Friday, hitting $52.96. 206,520 shares of the company's stock traded hands, compared to its average volume of 196,667. Silicon Motion Technology Co. has a 1 year low of $50.50 and a 1 year high of $85.87. The firm's fifty day moving average is $54.91 and its 200-day moving average is $60.97. The stock has a market capitalization 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 issued its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm's quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. On average, equities research analysts anticipate that Silicon Motion Technology Co. will post 2.59 EPS for the current year.

Silicon Motion Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors 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 yield of 3.78%. Silicon Motion Technology's dividend payout ratio (DPR) is 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.