Goldman Sachs Group Inc. Buys 272,103 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Goldman Sachs Group Inc. grew its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 615.7% in the 4th quarter, Holdings Channel reports. The fund owned 316,294 shares of the semiconductor producer’s stock after purchasing an additional 272,103 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Silicon Motion Technology were worth $19,379,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SIMO. FMR LLC increased 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 worth $8,301,000 after acquiring an additional 59,876 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Silicon Motion Technology in the third quarter worth about $32,024,000. Trexquant Investment LP bought a new stake in shares of Silicon Motion Technology in the third quarter worth about $839,000. Beryl Capital Management LLC increased its holdings in shares of Silicon Motion Technology by 4.4% in the third quarter. Beryl Capital Management LLC now owns 274,330 shares of the semiconductor producer’s stock worth $14,059,000 after acquiring an additional 11,438 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of Silicon Motion Technology in the third quarter worth about $2,768,000. 78.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SIMO shares. B. Riley increased their price target on Silicon Motion Technology from $101.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Morgan Stanley upgraded Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $88.00 in a report on Monday, May 6th. Susquehanna increased their price objective on Silicon Motion Technology from $100.00 to $110.00 and gave the stock a “positive” rating in a report on Monday, May 6th. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a report on Monday, May 6th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Silicon Motion Technology has an average rating of “Buy” and a consensus price target of $91.13.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO opened at $80.09 on Thursday. The stock has a 50 day moving average price of $78.12 and a 200 day moving average price of $71.75. 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 capitalization of $2.70 billion, a PE ratio of 45.51, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $189.31 million during the quarter, compared to analysts’ expectations of $180.23 million. As a group, research analysts forecast that Silicon Motion Technology Co. will post 2.81 EPS for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.50%. Silicon Motion Technology’s payout ratio is 113.07%.

Silicon Motion Technology Company 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.