Silicon Motion Technology Co. (NASDAQ:SIMO) Stock Holdings Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 36.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,816 shares of the semiconductor producer's stock after purchasing an additional 152,467 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.69% of Silicon Motion Technology worth $34,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in Silicon Motion Technology by 129.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer's stock valued at $27,000 after acquiring an additional 251 shares during the last quarter. Blue Trust Inc. increased its stake in Silicon Motion Technology by 3,971.4% in the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock valued at $44,000 after purchasing an additional 556 shares during the last quarter. Headlands Technologies LLC purchased a new position in Silicon Motion Technology during the second quarter worth about $139,000. Van ECK Associates Corp acquired a new stake in Silicon Motion Technology in the 3rd quarter worth about $151,000. Finally, XTX Topco Ltd acquired a new stake in Silicon Motion Technology in the 2nd quarter worth about $220,000. Institutional investors and hedge funds own 78.02% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SIMO. Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. Susquehanna cut their price target on shares of Silicon Motion Technology from $110.00 to $95.00 and set a "positive" rating on the stock in a research note on Friday, November 1st. Bank of America lowered shares of Silicon Motion Technology from a "buy" rating to an "underperform" rating and decreased their price target for the company from $90.00 to $60.00 in a report on Friday, August 16th. Roth Mkm dropped their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, October 8th. Finally, StockNews.com cut Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.67.

Silicon Motion Technology Stock Up 1.2 %

Shares of NASDAQ SIMO traded up $0.64 on Friday, hitting $53.07. The company had a trading volume of 218,814 shares, compared to its average volume of 374,223. 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 $1.79 billion, a P/E ratio of 20.10, a PEG ratio of 1.42 and a beta of 0.84. The business has a 50 day moving average of $56.13 and a two-hundred day moving average of $66.21.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share 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 return on equity of 11.52% and a net margin of 10.90%. Silicon Motion Technology's quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. On average, sell-side analysts anticipate that Silicon Motion Technology Co. will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, November 14th. This represents a $2.00 annualized dividend and a yield of 3.77%. Silicon Motion Technology's dividend payout ratio is presently 75.76%.

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.