Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP boosted its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 27.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 386,232 shares of the semiconductor producer’s stock after purchasing an additional 82,896 shares during the period. Silicon Motion Technology comprises approximately 1.0% of Systematic Financial Management LP’s investment portfolio, making the stock its 23rd biggest holding. Systematic Financial Management LP owned approximately 1.15% of Silicon Motion Technology worth $31,281,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of Silicon Motion Technology by 161.5% in the 1st quarter. Acadian Asset Management LLC now owns 1,336,448 shares of the semiconductor producer’s stock valued at $102,779,000 after buying an additional 825,394 shares during the period. Kodai Capital Management LP acquired a new position in Silicon Motion Technology in the fourth quarter valued at approximately $44,073,000. Lord Abbett & CO. LLC purchased a new stake in Silicon Motion Technology in the 1st quarter worth approximately $53,676,000. Farallon Capital Management LLC grew its stake 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 period. Finally, AIGH Capital Management LLC acquired a new position in shares of Silicon Motion Technology in the 2nd quarter valued at $22,272,000. 78.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SIMO. Morgan Stanley cut their price objective on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Bank of America lowered Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $90.00 to $60.00 in a report on Friday, August 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 research report on Monday, August 5th. Needham & Company LLC boosted 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. Finally, StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Silicon Motion Technology Trading Down 1.4 %

NASDAQ:SIMO opened at $60.59 on Friday. Silicon Motion Technology Co. has a twelve month low of $49.50 and a twelve month high of $85.87. The company has a market cap of $2.04 billion, a P/E ratio of 34.43, a P/E/G ratio of 0.92 and a beta of 0.84. The company’s 50-day moving average price is $62.10 and its 200-day moving average price is $72.50.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $210.67 million for the quarter, compared to analysts’ expectations of $206.75 million. During the same period in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, analysts expect that Silicon Motion Technology Co. will post 2.8 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 annualized dividend and a dividend yield of 3.30%. Silicon Motion Technology’s dividend payout ratio is presently 113.07%.

Silicon Motion Technology 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.