Fulcrum Asset Management LLP Acquires 8,162 Shares of Silicon Motion Technology Corporation $SIMO

Fulcrum Asset Management LLP boosted its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 203.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,180 shares of the semiconductor producer's stock after acquiring an additional 8,162 shares during the quarter. Fulcrum Asset Management LLP's holdings in Silicon Motion Technology were worth $3,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. grew its stake in shares of Silicon Motion Technology by 36.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 300,000 shares of the semiconductor producer's stock worth $33,687,000 after purchasing an additional 80,000 shares during the last quarter. Calamos Advisors LLC bought a new position in Silicon Motion Technology during the 1st quarter worth $2,686,000. Bank of America Corp DE raised its position in Silicon Motion Technology by 33.2% during the 1st quarter. Bank of America Corp DE now owns 244,387 shares of the semiconductor producer's stock worth $27,442,000 after purchasing an additional 60,970 shares during the last quarter. Tidal Investments LLC raised its position in Silicon Motion Technology by 135.9% during the 2nd quarter. Tidal Investments LLC now owns 116,620 shares of the semiconductor producer's stock worth $38,873,000 after purchasing an additional 67,178 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Silicon Motion Technology by 14.3% during the 1st quarter. Sei Investments Co. now owns 109,073 shares of the semiconductor producer's stock worth $12,248,000 after buying an additional 13,677 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SIMO shares. Wall Street Zen downgraded Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Saturday. Susquehanna lifted their price objective on Silicon Motion Technology from $275.00 to $350.00 and gave the stock a "positive" rating in a research note on Friday, July 31st. Needham & Company LLC upped their target price on Silicon Motion Technology from $240.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Craig Hallum reissued a "buy" rating and set a $325.00 target price on shares of Silicon Motion Technology in a research report on Friday, July 31st. Finally, China Renaissance assumed coverage on shares of Silicon Motion Technology in a report on Wednesday, October 28th. They set a "buy" rating and a $300.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $328.75.

Silicon Motion Technology Stock Performance

SIMO stock opened at $172.01 on Tuesday. The firm has a market cap of $5.83 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.33 and a beta of 1.78. The company has a current ratio of 5.68, a quick ratio of 3.65 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average price of $239.96 and a 200-day moving average price of $215.44. Silicon Motion Technology Corporation has a 1-year low of $79.76 and a 1-year high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its earnings results on Wednesday, October 28th. The semiconductor producer reported $4.35 EPS for the quarter, topping the consensus estimate of $3.30 by $1.05. Silicon Motion Technology had a return on equity of 32.29% and a net margin of 19.36%. The business had revenue of $560.22 million during the quarter, compared to analysts' expectations of $529.10 million. During the same quarter last year, the firm posted $1.00 earnings per share. The firm's revenue was up 131.5% on a year-over-year basis. As a group, equities research analysts expect that Silicon Motion Technology Corporation will post 10.20 earnings per share for the current year.

Silicon Motion Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be paid a $0.5750 dividend. This represents a $2.30 annualized dividend and a yield of 1.3%. 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 presently 21.44%.

About Silicon Motion Technology

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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