XTX Topco Ltd boosted its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO – Free Report) by 73.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,715 shares of the semiconductor producer’s stock after buying an additional 2,003 shares during the period. XTX Topco Ltd’s holdings in Silicon Motion Technology were worth $286,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in Silicon Motion Technology by 129.4% in the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after buying an additional 251 shares during the period. Blue Trust Inc. raised its holdings 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 buying an additional 556 shares during the period. Headlands Technologies LLC acquired a new stake in Silicon Motion Technology in the second quarter valued at approximately $139,000. Van ECK Associates Corp acquired a new stake in Silicon Motion Technology in the third quarter valued at approximately $151,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Silicon Motion Technology in the second quarter valued at approximately $223,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on SIMO shares. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. 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 report on Monday, September 16th. Roth Mkm lowered their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. Craig Hallum lowered their price objective on shares of 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. Finally, Susquehanna lowered their price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.67.
Silicon Motion Technology Trading Down 0.3 %
SIMO stock opened at $60.15 on Wednesday. Silicon Motion Technology Co. has a twelve month low of $50.50 and a twelve month high of $85.87. The company has a market capitalization of $2.03 billion, a P/E ratio of 22.78, a PEG ratio of 1.61 and a beta of 0.82. The firm has a 50 day simple moving average of $55.57 and a 200-day simple moving average of $64.50.
Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The business had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, research analysts predict that Silicon Motion Technology Co. will post 2.59 EPS for the current year.
Silicon Motion Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Thursday, November 14th. 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.
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