Marshall Wace LLP Decreases Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Marshall Wace LLP trimmed its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 14.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 90,317 shares of the semiconductor producer’s stock after selling 15,252 shares during the period. Marshall Wace LLP’s holdings in Silicon Motion Technology were worth $7,315,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in Silicon Motion Technology by 154.9% during the 4th quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock valued at $34,000 after purchasing an additional 333 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Silicon Motion Technology by 3,971.4% during the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 556 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silicon Motion Technology during the second quarter valued at approximately $139,000. LRI Investments LLC purchased a new stake in shares of Silicon Motion Technology in the first quarter worth approximately $150,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Silicon Motion Technology during the fourth quarter valued at $123,000. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Up 0.2 %

Shares of Silicon Motion Technology stock opened at $60.74 on Tuesday. Silicon Motion Technology Co. has a 52-week low of $50.43 and a 52-week high of $85.87. The firm’s 50 day moving average price is $62.10 and its 200-day moving average price is $72.50. The company has a market cap of $2.05 billion, a P/E ratio of 34.51, a PEG ratio of 0.92 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, beating 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 firm 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 posted $0.33 EPS. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. As a group, equities research analysts forecast 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Thursday, August 8th. Silicon Motion Technology’s payout ratio is currently 113.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America cut shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $90.00 to $60.00 in a research report on Friday, August 16th. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. B. Riley lowered their target price on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a report on Monday, August 5th. Needham & Company LLC raised their price target on Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Morgan Stanley lowered 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 research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

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.