State Street Corp lowered its stake in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 33.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,537 shares of the semiconductor producer's stock after selling 26,804 shares during the quarter. State Street Corp owned about 0.16% of Silicon Motion Technology worth $3,313,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock valued at $27,000 after buying an additional 251 shares in the last quarter. Blue Trust Inc. lifted its holdings in Silicon Motion Technology by 139.5% in the 3rd 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 bought a new position in shares of Silicon Motion Technology during the 2nd quarter valued at about $139,000. Van ECK Associates Corp bought a new stake in shares of Silicon Motion Technology in the 3rd quarter worth approximately $151,000. Finally, XTX Topco Ltd acquired a new stake in Silicon Motion Technology during the second quarter valued at approximately $220,000. Institutional investors own 78.02% of the company's stock.
Wall Street Analysts Forecast Growth
SIMO has been the topic of several research reports. Needham & Company LLC dropped their price target on Silicon Motion Technology from $94.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, November 1st. StockNews.com raised Silicon Motion Technology from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Craig Hallum cut their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Susquehanna decreased their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating for the company in a report on Friday, November 1st. Finally, Roth Mkm decreased their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of "Moderate Buy" and an average target price of $81.67.
View Our Latest Report on Silicon Motion Technology
Silicon Motion Technology Stock Down 1.0 %
Silicon Motion Technology stock traded down $0.55 on Tuesday, hitting $54.05. The company's stock had a trading volume of 227,347 shares, compared to its average volume of 366,347. The company has a fifty day moving average price of $55.02 and a 200-day moving average price of $62.51. The firm has a market cap of $1.82 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. Silicon Motion Technology Co. has a one year low of $50.50 and a one year high of $85.87.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.07. The firm had revenue of $212.40 million during the quarter, compared to analysts' expectations of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The company's revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. 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 was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology's dividend payout ratio (DPR) is currently 75.76%.
About Silicon Motion Technology
(
Free Report)
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.
Read More
Before you consider Silicon Motion Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silicon Motion Technology wasn't on the list.
While Silicon Motion Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
