Vanguard Personalized Indexing Management LLC Acquires Shares of 3,276 Silicon Motion Technology Co. (NASDAQ:SIMO)

Vanguard Personalized Indexing Management LLC bought a new position in Silicon Motion Technology Co. (NASDAQ:SIMO) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 3,276 shares of the semiconductor producer’s stock, valued at approximately $265,000.

Several other hedge funds have also recently made changes to their positions in SIMO. Parallel Advisors LLC lifted its position in Silicon Motion Technology by 154.9% in the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after buying an additional 333 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Silicon Motion Technology by 3,971.4% in the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after acquiring an additional 556 shares during the period. Barometer Capital Management Inc. bought a new stake in shares of Silicon Motion Technology in the 4th quarter worth about $123,000. Headlands Technologies LLC purchased a new position in shares of Silicon Motion Technology during the 2nd quarter worth about $139,000. Finally, LRI Investments LLC bought a new position in Silicon Motion Technology during the 1st quarter valued at about $150,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SIMO. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Needham & Company LLC raised their price target on Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. B. Riley cut their price objective 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. Bank of America lowered Silicon Motion Technology from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $90.00 to $60.00 in a research note on Friday, August 16th. Finally, Morgan Stanley lowered their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Silicon Motion Technology has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Silicon Motion Technology Stock Performance

NASDAQ:SIMO opened at $60.59 on Monday. The firm has a 50-day simple moving average of $62.10 and a 200-day simple moving average of $72.50. 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 $2.04 billion, a P/E ratio of 34.43, a P/E/G ratio of 0.92 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share for the quarter, topping 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 company had revenue of $210.67 million during the quarter, compared to analyst estimates of $206.75 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. Silicon Motion Technology’s revenue was up 50.1% on a year-over-year basis. On average, research analysts predict that Silicon Motion Technology Co. will post 2.8 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Thursday, August 8th. Silicon Motion Technology’s payout ratio is currently 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.