Oppenheimer Asset Management Inc. Has $317,000 Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Oppenheimer Asset Management Inc. increased its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,215 shares of the semiconductor producer’s stock after buying an additional 707 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Silicon Motion Technology were worth $317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SIMO. Easterly Investment Partners LLC raised its stake in shares of Silicon Motion Technology by 3.0% during the third quarter. Easterly Investment Partners LLC now owns 225,792 shares of the semiconductor producer’s stock worth $13,715,000 after buying an additional 6,528 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Silicon Motion Technology by 28.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 376,324 shares of the semiconductor producer’s stock valued at $22,858,000 after purchasing an additional 83,992 shares during the period. Van ECK Associates Corp bought a new position in shares of Silicon Motion Technology in the 3rd quarter worth $151,000. Harbor Capital Advisors Inc. grew its stake in shares of Silicon Motion Technology by 95.7% during the third quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock worth $7,793,000 after purchasing an additional 62,733 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Silicon Motion Technology by 46.4% in the third quarter. Farther Finance Advisors LLC now owns 3,925 shares of the semiconductor producer’s stock valued at $238,000 after purchasing an additional 1,244 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

SIMO has been the subject of several research analyst reports. Craig Hallum decreased their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Morgan Stanley dropped their price objective on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. StockNews.com lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Finally, Roth Mkm decreased their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Stock Down 0.9 %

NASDAQ SIMO opened at $53.07 on Thursday. Silicon Motion Technology Co. has a 52 week low of $50.50 and a 52 week high of $85.87. The business has a 50 day moving average price of $56.63 and a 200-day moving average price of $67.45. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.39 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $212.40 million for the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. On average, equities research analysts anticipate that Silicon Motion Technology Co. will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. Silicon Motion Technology’s dividend payout ratio is presently 75.76%.

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.