Pendal Group Ltd bought a new position in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 36,042 shares of the semiconductor producer’s stock, valued at approximately $1,935,000. Pendal Group Ltd owned approximately 0.10% of Silicon Motion Technology at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DnB Asset Management AS acquired a new stake in Silicon Motion Technology in the 2nd quarter valued at about $555,000. SG Capital Management LLC acquired a new stake in Silicon Motion Technology in the 2nd quarter valued at about $8,181,000. Essex Investment Management Co. LLC acquired a new stake in Silicon Motion Technology in the 2nd quarter valued at about $1,473,000. FNY Investment Advisers LLC acquired a new stake in Silicon Motion Technology in the 2nd quarter valued at about $285,000. Finally, Janney Montgomery Scott LLC raised its position in Silicon Motion Technology by 4.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 28,690 shares of the semiconductor producer’s stock valued at $1,517,000 after purchasing an additional 1,275 shares in the last quarter. 75.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ SIMO opened at $37.25 on Friday. Silicon Motion Technology Corp. has a fifty-two week low of $35.25 and a fifty-two week high of $61.85. The stock has a market cap of $1.40 billion, a PE ratio of 14.60 and a beta of 0.95.
Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Tuesday, October 30th. The semiconductor producer reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.07. Silicon Motion Technology had a return on equity of 17.92% and a net margin of 17.10%. The business had revenue of $138.60 million for the quarter, compared to analyst estimates of $137.36 million. During the same quarter last year, the company earned $0.57 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts forecast that Silicon Motion Technology Corp. will post 2.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 56.94%.
SIMO has been the topic of a number of analyst reports. JPMorgan Chase & Co. set a $63.00 price target on Silicon Motion Technology and gave the company a “buy” rating in a research report on Wednesday, October 10th. Morgan Stanley lowered Silicon Motion Technology from an “overweight” rating to an “equal” rating and set a $54.00 price target on the stock. in a research report on Wednesday, August 1st. Zacks Investment Research lowered Silicon Motion Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Craig Hallum reduced their price target on Silicon Motion Technology from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Finally, ValuEngine lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. Silicon Motion Technology has a consensus rating of “Buy” and an average target price of $56.31.
Silicon Motion Technology Company Profile
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.
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