Seven Eight Capital LP purchased a new stake in Silicon Motion Technology Co. (NASDAQ:SIMO – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,767 shares of the semiconductor producer’s stock, valued at approximately $224,000.
A number of other institutional investors have also recently bought and sold shares of SIMO. Parallel Advisors LLC boosted its position in shares of Silicon Motion Technology by 154.9% during the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after purchasing an additional 333 shares in the last quarter. Blue Trust Inc. grew its stake in 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. Assetmark Inc. increased its holdings in shares of Silicon Motion Technology by 34.5% in the fourth quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock worth $82,000 after acquiring an additional 342 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Silicon Motion Technology during the second quarter worth about $139,000. Finally, LRI Investments LLC bought a new position in shares of Silicon Motion Technology during the 1st quarter valued at about $150,000. Institutional investors and hedge funds own 78.02% of the company’s stock.
Silicon Motion Technology Price Performance
Shares of NASDAQ SIMO opened at $54.94 on Tuesday. Silicon Motion Technology Co. has a fifty-two week low of $49.50 and a fifty-two week high of $85.87. The business has a fifty day moving average price of $63.52 and a two-hundred day moving average price of $72.87. The stock has a market capitalization of $1.85 billion, a PE ratio of 31.22, a P/E/G ratio of 0.88 and a beta of 0.84.
Silicon Motion Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.00 annualized dividend and a dividend yield of 3.64%. Silicon Motion Technology’s dividend payout ratio is 113.07%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Morgan Stanley lowered their price target on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Needham & Company LLC increased their price objective on Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a report on Monday, July 8th. B. Riley cut their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Bank of America cut Silicon Motion Technology from a “buy” rating to an “underperform” rating and cut their price objective for the company from $90.00 to $60.00 in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.
Check Out Our Latest Research Report on Silicon Motion Technology
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.
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