Neumeier Poma Investment Counsel LLC Sells 11,720 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Neumeier Poma Investment Counsel LLC reduced its position in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,665 shares of the semiconductor producer's stock after selling 11,720 shares during the period. Neumeier Poma Investment Counsel LLC owned about 0.54% of Silicon Motion Technology worth $9,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SIMO. 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 valued at $136,032,000 after purchasing an additional 485,862 shares in the last quarter. Reinhart Partners LLC. grew its position in Silicon Motion Technology by 5.1% in the fourth quarter. Reinhart Partners LLC. now owns 1,135,738 shares of the semiconductor producer's stock worth $61,387,000 after acquiring an additional 55,363 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Silicon Motion Technology by 21.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer's stock valued at $67,051,000 after purchasing an additional 196,609 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at $40,331,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Silicon Motion Technology by 36.4% in the third quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer's stock worth $34,671,000 after purchasing an additional 152,467 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company's stock.

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Analyst Ratings Changes

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

Silicon Motion Technology Stock Down 1.9 %

Shares of SIMO stock traded down $0.94 during mid-day trading on Monday, reaching $49.79. The stock had a trading volume of 70,320 shares, compared to its average volume of 349,579. The firm has a market cap of $1.68 billion, a PE ratio of 18.50, a P/E/G ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a one year low of $48.81 and a one year high of $85.87. The firm's 50 day simple moving average is $54.33 and its 200 day simple moving average is $55.30.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share 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 11.63%. Sell-side analysts forecast that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.02%. Silicon Motion Technology's payout ratio is presently 74.35%.

Silicon Motion Technology announced that its board has authorized a stock buyback program on Wednesday, February 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor producer to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Silicon Motion Technology 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.