Inspire Investing LLC Makes New Investment in Silicon Motion Technology Co. (NASDAQ:SIMO)

Inspire Investing LLC purchased a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,405 shares of the semiconductor producer’s stock, valued at approximately $762,000.

Several other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC increased its position in shares of Silicon Motion Technology by 161.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,336,448 shares of the semiconductor producer’s stock worth $102,779,000 after purchasing an additional 825,394 shares during the last quarter. Farallon Capital Management LLC increased its position in shares of Silicon Motion Technology by 247.0% during the 1st quarter. Farallon Capital Management LLC now owns 855,449 shares of the semiconductor producer’s stock worth $65,818,000 after purchasing an additional 608,949 shares during the last quarter. Reinhart Partners LLC. increased its position in shares of Silicon Motion Technology by 2.4% during the 2nd quarter. Reinhart Partners LLC. now owns 754,017 shares of the semiconductor producer’s stock worth $61,068,000 after purchasing an additional 17,646 shares during the last quarter. Kodai Capital Management LP acquired a new position in shares of Silicon Motion Technology during the 4th quarter worth approximately $44,073,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Silicon Motion Technology during the 1st quarter worth approximately $53,676,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Bank of America lowered Silicon Motion Technology from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $90.00 to $60.00 in a report on Friday, August 16th. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Morgan Stanley decreased their target price on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. B. Riley decreased their target price on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Needham & Company LLC boosted their target price on Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, July 8th. One 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Silicon Motion Technology Price Performance

Shares of NASDAQ SIMO opened at $54.97 on Friday. The stock’s fifty day moving average price is $64.01 and its two-hundred day moving average price is $72.97. Silicon Motion Technology Co. has a one year low of $49.50 and a one year high of $85.87. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 0.88 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data 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 period in the prior year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. On average, equities analysts anticipate that Silicon Motion Technology Co. will post 2.86 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.64%. 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.