Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP raised its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 28.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 494,328 shares of the semiconductor producer's stock after purchasing an additional 108,096 shares during the period. Systematic Financial Management LP owned 1.47% of Silicon Motion Technology worth $30,025,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. boosted its stake in shares of Silicon Motion Technology by 129.4% in the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock worth $27,000 after acquiring an additional 251 shares during the period. Blue Trust Inc. boosted its stake in shares of Silicon Motion Technology by 3,971.4% in the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock worth $44,000 after acquiring an additional 556 shares during the period. Headlands Technologies LLC bought a new position in shares of Silicon Motion Technology in the second quarter worth about $139,000. Van ECK Associates Corp bought a new position in shares of Silicon Motion Technology in the third quarter worth about $151,000. Finally, XTX Topco Ltd bought a new position in shares of Silicon Motion Technology in the second quarter worth about $220,000. Institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Price Performance

NASDAQ:SIMO remained flat at $56.20 during midday trading on Thursday. The company had a trading volume of 236,426 shares, compared to its average volume of 373,528. Silicon Motion Technology Co. has a 52 week low of $50.50 and a 52 week high of $85.87. The stock has a market capitalization of $1.89 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The company's 50 day simple moving average is $56.10 and its 200-day simple moving average is $65.77.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. The business had revenue of $212.40 million for the quarter, compared to analysts' expectations of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The business's revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. As a group, research analysts predict that Silicon Motion Technology Co. will post 2.59 EPS for the current year.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 yield of 3.56%. Silicon Motion Technology's dividend payout ratio (DPR) is presently 75.38%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America lowered Silicon Motion Technology from a "buy" rating to an "underperform" rating and dropped their price target for the company from $90.00 to $60.00 in a research note on Friday, August 16th. StockNews.com raised Silicon Motion Technology from a "hold" rating to a "buy" rating in a research note on Tuesday. 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. Craig Hallum decreased their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley decreased their price objective on 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 analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.67.

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.