National Bank of Canada FI Trims Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

National Bank of Canada FI lessened its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 98.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 750 shares of the semiconductor producer's stock after selling 46,400 shares during the period. National Bank of Canada FI's holdings in Silicon Motion Technology were worth $46,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cerity Partners LLC purchased a new position in shares of Silicon Motion Technology in the third quarter worth $1,826,000. Harbor Capital Advisors Inc. lifted its stake in Silicon Motion Technology by 95.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer's stock worth $7,793,000 after purchasing an additional 62,733 shares in the last quarter. FMR LLC boosted its holdings in shares of Silicon Motion Technology by 27.7% during the 3rd 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 during the last quarter. Resolute Capital Asset Partners LLC grew its position in shares of Silicon Motion Technology by 44.4% during the second quarter. Resolute Capital Asset Partners LLC now owns 65,000 shares of the semiconductor producer's stock valued at $5,264,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Silicon Motion Technology by 41.9% in the second quarter. Renaissance Technologies LLC now owns 113,879 shares of the semiconductor producer's stock worth $9,223,000 after purchasing an additional 33,600 shares during the last quarter. 78.02% of the stock is owned by institutional investors.

Silicon Motion Technology Trading Down 8.3 %

Shares of SIMO stock traded down $4.97 during trading hours on Wednesday, reaching $55.18. 375,659 shares of the stock were exchanged, compared to its average volume of 371,166. Silicon Motion Technology Co. has a 12-month low of $50.50 and a 12-month high of $85.87. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. The company's 50-day moving average price is $55.57 and its 200-day moving average price is $64.37.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released 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 return on equity of 11.52% and a net margin of 10.90%. The firm 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 firm posted $0.32 earnings per share. The company's quarterly revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.62%. Silicon Motion Technology's dividend payout ratio (DPR) is 75.76%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Roth Mkm dropped their price target on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, October 8th. Needham & Company LLC cut their target price on shares of Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating for the company in a report on Friday, November 1st. StockNews.com downgraded shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Susquehanna dropped their price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley decreased their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $81.67.

About Silicon Motion Technology

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.