Headlands Technologies LLC Acquires Shares of 1,715 Silicon Motion Technology Co. (NASDAQ:SIMO)

Headlands Technologies LLC bought a new stake in Silicon Motion Technology Co. (NASDAQ:SIMO) during the 2nd quarter, HoldingsChannel reports. The fund bought 1,715 shares of the semiconductor producer’s stock, valued at approximately $139,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Silicon Motion Technology by 154.9% during the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock valued at $34,000 after buying an additional 333 shares in the last quarter. Blue Trust Inc. lifted its holdings in Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 556 shares in the last quarter. Assetmark Inc. increased its position in shares of Silicon Motion Technology by 34.5% in the 4th quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock valued at $82,000 after buying an additional 342 shares in the last quarter. Barometer Capital Management Inc. bought a new position in Silicon Motion Technology during the 4th quarter worth about $123,000. Finally, LRI Investments LLC bought a new position in shares of Silicon Motion Technology in the 1st quarter valued at about $150,000. 78.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Bank of America downgraded shares of 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 report on Friday, August 16th. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday. B. Riley decreased their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Needham & Company LLC lifted their price target on shares of Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, Silicon Motion Technology presently has an average rating of “Moderate Buy” and an average price target of $87.56.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $59.64 on Friday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 0.92 and a beta of 0.84. Silicon Motion Technology Co. has a 1-year low of $49.50 and a 1-year high of $85.87. The company’s 50-day moving average is $66.54 and its 200 day moving average is $73.53.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. The firm had revenue of $210.67 million for the quarter, compared to analyst estimates of $206.75 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Silicon Motion Technology’s revenue for the quarter was up 50.1% on a year-over-year basis. Research analysts anticipate that Silicon Motion Technology Co. will post 2.86 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.00 dividend on an annualized basis and a yield of 3.35%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 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.