Cerity Partners LLC Boosts Stock Position in Silicon Motion Technology Corporation (NASDAQ:SIMO)

Cerity Partners LLC boosted its position in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,413 shares of the semiconductor producer's stock after purchasing an additional 8,298 shares during the period. Cerity Partners LLC owned about 0.09% of Silicon Motion Technology worth $1,588,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC lifted its position in shares of Silicon Motion Technology by 61.8% during the first quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock worth $58,000 after acquiring an additional 440 shares in the last quarter. Menard Financial Group LLC purchased a new stake in shares of Silicon Motion Technology during the fourth quarter worth $88,000. LRI Investments LLC lifted its position in shares of Silicon Motion Technology by 519.0% during the fourth quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer's stock worth $164,000 after acquiring an additional 2,543 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Silicon Motion Technology by 66.8% during the first quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer's stock worth $195,000 after acquiring an additional 1,529 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Silicon Motion Technology during the fourth quarter worth $208,000. Hedge funds and other institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Stock Performance

SIMO traded up $0.34 during trading on Friday, reaching $74.18. The stock had a trading volume of 26,375 shares, compared to its average volume of 438,083. The stock has a market cap of $2.52 billion, a PE ratio of 26.59, a PEG ratio of 11.83 and a beta of 0.85. Silicon Motion Technology Corporation has a one year low of $37.21 and a one year high of $76.77. The business has a 50-day moving average of $69.48 and a 200-day moving average of $57.52.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. Silicon Motion Technology had a return on equity of 12.00% and a net margin of 12.06%. The firm had revenue of $166.49 million for the quarter, compared to analysts' expectations of $162.69 million. During the same period last year, the firm earned $0.64 earnings per share. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. Equities research analysts forecast that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.70%. Silicon Motion Technology's dividend payout ratio (DPR) is currently 71.33%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SIMO. Citigroup upgraded Silicon Motion Technology to a "buy" rating in a research report on Wednesday, June 18th. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 30th. Needham & Company LLC lowered their price objective on Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Bank of America upgraded Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research report on Wednesday, June 18th. Finally, Roth Capital increased their price objective on Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.33.

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.