National Bank of Canada FI Sells 46,400 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

National Bank of Canada FI decreased its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 98.4% in the third quarter, Holdings Channel reports. The firm owned 750 shares of the semiconductor producer’s stock after selling 46,400 shares during the quarter. National Bank of Canada FI’s holdings in Silicon Motion Technology were worth $46,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SIMO. Erste Asset Management GmbH acquired a new position in shares of Silicon Motion Technology in the 3rd quarter worth approximately $40,331,000. FMR LLC grew its position in Silicon Motion Technology by 27.7% in the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after acquiring an additional 485,862 shares during the period. Reinhart Partners LLC. raised its stake in Silicon Motion Technology by 43.3% during the third quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock worth $65,622,000 after acquiring an additional 326,358 shares in the last quarter. AIGH Capital Management LLC acquired a new position in Silicon Motion Technology during the second quarter worth $22,272,000. Finally, Hood River Capital Management LLC bought a new position in shares of Silicon Motion Technology during the second quarter valued at $21,208,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Performance

NASDAQ SIMO opened at $60.15 on Wednesday. The stock has a market capitalization of $2.03 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. Silicon Motion Technology Co. has a 52 week low of $50.50 and a 52 week high of $85.87. The stock has a fifty day moving average of $55.57 and a 200-day moving average of $64.50.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. During the same period last year, the company earned $0.32 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. Equities research analysts forecast that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.76%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SIMO. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. Needham & Company LLC dropped their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Susquehanna reduced their target price on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Morgan Stanley dropped their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

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.