Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd boosted its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 73.9% in the third quarter, HoldingsChannel.com reports. The firm owned 4,715 shares of the semiconductor producer’s stock after acquiring an additional 2,003 shares during the period. XTX Topco Ltd’s holdings in Silicon Motion Technology were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new stake in Silicon Motion Technology in the third quarter valued at $1,826,000. Harbor Capital Advisors Inc. lifted its stake in Silicon Motion Technology by 95.7% in the third quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock valued at $7,793,000 after buying an additional 62,733 shares during the last quarter. National Bank of Canada FI lifted its stake in Silicon Motion Technology by 6,186.7% in the second quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer’s stock valued at $3,766,000 after buying an additional 46,400 shares during the last quarter. FMR LLC lifted its stake 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 buying an additional 485,862 shares during the last quarter. Finally, Resolute Capital Asset Partners LLC lifted its stake in Silicon Motion Technology by 44.4% in the second quarter. Resolute Capital Asset Partners LLC now owns 65,000 shares of the semiconductor producer’s stock valued at $5,264,000 after buying an additional 20,000 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SIMO. Morgan Stanley cut their target price on 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. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Craig Hallum cut their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Susquehanna cut their price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC cut their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Silicon Motion Technology Stock Down 0.3 %

NASDAQ:SIMO opened at $60.15 on Wednesday. The business’s 50-day moving average price is $55.57 and its 200 day moving average price is $64.50. The firm has a market cap of $2.03 billion, a P/E ratio of 22.78, a PEG 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.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $212.40 million for the quarter, compared to analyst estimates of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. Silicon Motion Technology’s revenue 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. Sell-side analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current year.

Silicon Motion Technology Dividend Announcement

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

About Silicon Motion Technology

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.