Janney Montgomery Scott LLC Purchases 752 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Janney Montgomery Scott LLC boosted its position in Silicon Motion Technology Co. (NASDAQ:SIMO) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,265 shares of the semiconductor producer’s stock after purchasing an additional 752 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Silicon Motion Technology were worth $4,609,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings 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 worth $136,032,000 after purchasing an additional 485,862 shares in the last quarter. Reinhart Partners LLC. raised its holdings in Silicon Motion Technology by 5.1% in the fourth quarter. Reinhart Partners LLC. now owns 1,135,738 shares of the semiconductor producer’s stock worth $61,387,000 after purchasing an additional 55,363 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Silicon Motion Technology by 21.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock worth $67,051,000 after purchasing an additional 196,609 shares in the last quarter. Erste Asset Management GmbH bought a new position in Silicon Motion Technology in the third quarter worth about $40,331,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Silicon Motion Technology by 36.4% in the third quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer’s stock worth $34,671,000 after purchasing an additional 152,467 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SIMO shares. Roth Mkm reduced their target price on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Susquehanna dropped their price target on 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. Craig Hallum dropped their price target on 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. StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Stock Up 0.4 %

Shares of NASDAQ SIMO opened at $51.26 on Thursday. The business’s 50 day moving average price is $54.60 and its 200 day moving average price is $58.51. The firm has a market cap of $1.73 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.29 and a beta of 0.80. Silicon Motion Technology Co. has a 52 week low of $48.81 and a 52 week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, beating 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 for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts expect that Silicon Motion Technology Co. will post 2.58 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology’s payout ratio is presently 75.38%.

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.