Farther Finance Advisors LLC Cuts Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Farther Finance Advisors LLC lessened its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 41.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,290 shares of the semiconductor producer’s stock after selling 1,635 shares during the period. Farther Finance Advisors LLC’s holdings in Silicon Motion Technology were worth $124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake in shares of Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after acquiring an additional 251 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after acquiring an additional 484 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Silicon Motion Technology by 64.7% during the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after acquiring an additional 883 shares during the last quarter. Choreo LLC purchased a new stake in shares of Silicon Motion Technology during the fourth quarter worth about $209,000. Finally, TradeLink Capital LLC purchased a new stake in shares of Silicon Motion Technology during the fourth quarter worth about $228,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Down 1.2 %

Shares of NASDAQ:SIMO opened at $55.92 on Friday. Silicon Motion Technology Co. has a 12-month low of $48.81 and a 12-month high of $85.87. The company has a market capitalization of $1.88 billion, a PE ratio of 20.79, a PEG ratio of 1.36 and a beta of 0.71. The business has a 50 day moving average of $54.06 and a two-hundred day moving average of $55.56.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. Equities research analysts predict that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Thursday, February 13th. Silicon Motion Technology’s payout ratio is presently 74.35%.

Silicon Motion Technology declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the semiconductor producer to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SIMO shares. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Silicon Motion Technology in a research note on Friday, February 7th. 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. Finally, StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.63.

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.