Nomura Holdings Inc. Makes New Investment in Silicon Motion Technology Co. (NASDAQ:SIMO)

Nomura Holdings Inc. purchased a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,271 shares of the semiconductor producer’s stock, valued at approximately $3,080,000.

A number of other institutional investors have also recently bought and sold shares of SIMO. FMR LLC raised its holdings in shares of Silicon Motion Technology by 58.7% in the third quarter. FMR LLC now owns 161,961 shares of the semiconductor producer’s stock valued at $8,301,000 after buying an additional 59,876 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Silicon Motion Technology by 1,499.5% in the third quarter. Wolverine Asset Management LLC now owns 3,199 shares of the semiconductor producer’s stock valued at $164,000 after buying an additional 2,999 shares during the last quarter. Invesco Ltd. bought a new position in shares of Silicon Motion Technology in the third quarter valued at about $32,024,000. Acadian Asset Management LLC raised its holdings in shares of Silicon Motion Technology by 829.5% in the third quarter. Acadian Asset Management LLC now owns 187,709 shares of the semiconductor producer’s stock valued at $9,611,000 after buying an additional 167,514 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new position in shares of Silicon Motion Technology in the third quarter valued at about $1,845,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

NASDAQ SIMO opened at $84.88 on Wednesday. The business has a 50 day simple moving average of $77.40 and a 200 day simple moving average of $70.85. Silicon Motion Technology Co. has a 52-week low of $49.50 and a 52-week high of $95.33. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 48.23, a PEG ratio of 0.79 and a beta of 0.89.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Silicon Motion Technology had a return on equity of 7.78% and a net margin of 8.34%. The business had revenue of $189.31 million during the quarter, compared to analysts’ expectations of $180.23 million. On average, analysts predict that Silicon Motion Technology Co. will post 2.77 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a yield of 2.36%. Silicon Motion Technology’s payout ratio is 113.07%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SIMO. Susquehanna lifted their price target on Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a report on Monday, May 6th. Craig Hallum boosted their price objective on Silicon Motion Technology from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Wedbush reissued an “outperform” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a report on Friday, May 3rd. Morgan Stanley raised Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $59.00 to $88.00 in a report on Monday, May 6th. Finally, B. Riley boosted their price objective on Silicon Motion Technology from $101.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $91.13.

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.