8,875 Shares in Silicon Motion Technology Corporation $SIMO Purchased by University of Texas Texas AM Investment Management Co.

Key Points

• University of Texas Texas AM Investment Management Co. opened a position in Silicon Motion, buying 8,875 shares worth about $2.49 million in the third quarter. Institutional investors and hedge funds own 78.02% of the stock.
• Silicon Motion reported quarterly EPS of $4.35, beating the $3.30 consensus, while revenue rose 131.5% year over year to $560.22 million. It also raised its quarterly dividend from $0.50 to $0.575 per share.
• Analysts’ consensus rating was “Moderate Buy,” with a $331.25 average price target; 10 analysts rated the stock Buy and one rated it Hold.

University of Texas Texas AM Investment Management Co. bought a new position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,875 shares of the semiconductor producer's stock, valued at approximately $2,485,000.

Several other hedge funds have also added to or reduced their stakes in the business. StoneX Group Inc. acquired a new position in Silicon Motion Technology in the 3rd quarter valued at approximately $235,000. CenterBook Partners LP lifted its holdings in shares of Silicon Motion Technology by 20.7% during the third quarter. CenterBook Partners LP now owns 7,930 shares of the semiconductor producer's stock worth $2,220,000 after purchasing an additional 1,361 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of Silicon Motion Technology by 14.4% during the third quarter. Kestra Advisory Services LLC now owns 1,848 shares of the semiconductor producer's stock worth $517,000 after purchasing an additional 232 shares during the period. AIGH Capital Management LLC lifted its holdings in shares of Silicon Motion Technology by 13.9% during the third quarter. AIGH Capital Management LLC now owns 164,000 shares of the semiconductor producer's stock worth $45,920,000 after purchasing an additional 20,000 shares during the period. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Silicon Motion Technology in the third quarter worth $228,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $162.76 on Monday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.29 and a beta of 1.78. Silicon Motion Technology Corporation has a 52-week low of $79.76 and a 52-week high of $355.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 3.65 and a current ratio of 5.68. The firm has a 50 day moving average price of $241.43 and a two-hundred day moving average price of $215.16.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The semiconductor producer reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $3.30 by $1.05. Silicon Motion Technology had a net margin of 19.36% and a return on equity of 32.29%. The company had revenue of $560.22 million for the quarter, compared to analyst estimates of $529.10 million. During the same period in the prior year, the firm posted $1.00 EPS. The company's quarterly revenue was up 131.5% on a year-over-year basis. Equities analysts predict that Silicon Motion Technology Corporation will post 10.20 EPS for the current year.

Silicon Motion Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.5750 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.4%. This is an increase from Silicon Motion Technology's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, November 5th. Silicon Motion Technology's payout ratio is currently 24.78%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SIMO. Weiss Ratings downgraded Silicon Motion Technology from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 16th. Craig Hallum reaffirmed a "buy" rating and set a $325.00 target price on shares of Silicon Motion Technology in a research report on Friday, July 31st. Needham & Company LLC lifted their target price on Silicon Motion Technology from $240.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Zacks Research lowered Silicon Motion Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 2nd. Finally, China Renaissance initiated coverage on Silicon Motion Technology in a research report on Wednesday, October 28th. They issued a "buy" rating and a $300.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $331.25.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and markets NAND flash controllers and related storage solutions. Its products help manage data storage and retrieval in devices that use NAND flash memory.

The company's offerings include controllers for solid-state drives (SSDs), embedded storage such as eMMC and UFS, and removable storage products including memory cards and USB flash drives. Silicon Motion also develops firmware and other technologies for storage applications.

Founded in 1995, Silicon Motion serves customers around the world, including storage-device manufacturers, module makers and electronics companies.

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