Lord Abbett & CO. LLC Sells 58,510 Shares of Silicon Motion Technology Corporation $SIMO

Key Points

• Lord Abbett & CO. LLC reduced its holdings in Silicon Motion Technology by 4.4%, selling 58,510 shares during the first quarter, but still retains a significant 3.73% ownership in the company valued at $64 million.
• Silicon Motion reported $0.69 EPS for the last quarter, surpassing analyst expectations, with a revenue of $198.68 million, although this represented a 5.7% decline year-over-year.
• The company announced a quarterly dividend of $0.50 per share, which will be paid to shareholders on August 21st, indicating a solid dividend yield of 2.6%.

Lord Abbett & CO. LLC trimmed its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,266,420 shares of the semiconductor producer's stock after selling 58,510 shares during the quarter. Lord Abbett & CO. LLC owned 3.73% of Silicon Motion Technology worth $64,030,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SIMO. Geode Capital Management LLC grew its stake in Silicon Motion Technology by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 36,248 shares of the semiconductor producer's stock valued at $1,959,000 after acquiring an additional 300 shares during the period. Twinbeech Capital LP increased its position in shares of Silicon Motion Technology by 4.2% during the fourth quarter. Twinbeech Capital LP now owns 10,773 shares of the semiconductor producer's stock worth $582,000 after acquiring an additional 438 shares in the last quarter. Parallel Advisors LLC raised its holdings 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 during the period. Signaturefd LLC lifted its position in Silicon Motion Technology by 79.3% in the 1st quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock valued at $84,000 after acquiring an additional 736 shares in the last quarter. Finally, 1492 Capital Management LLC boosted its stake in Silicon Motion Technology by 2.5% in the 1st quarter. 1492 Capital Management LLC now owns 31,391 shares of the semiconductor producer's stock worth $1,587,000 after purchasing an additional 769 shares during the period. Institutional investors own 78.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Roth Capital lifted their target price on Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. B. Riley reissued a "buy" rating and issued a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research report on Thursday, June 5th. Susquehanna raised their target price on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, August 1st. Bank of America raised shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Wednesday, June 18th. Finally, Citigroup upgraded Silicon Motion Technology to a "buy" rating in a report on Wednesday, June 18th. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $87.78.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock traded down $1.20 during midday trading on Tuesday, reaching $73.99. 45,789 shares of the company's stock were exchanged, compared to its average volume of 431,342. The stock's 50-day simple moving average is $73.35 and its 200 day simple moving average is $60.33. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 3.68 and a beta of 0.92. Silicon Motion Technology Corporation has a 52 week low of $37.21 and a 52 week high of $85.11.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.15. Silicon Motion Technology had a return on equity of 10.14% and a net margin of 10.36%.The business had revenue of $198.68 million during the quarter, compared to the consensus estimate of $180.40 million. During the same quarter last year, the firm posted $0.96 EPS. The company's quarterly revenue was down 5.7% on a year-over-year basis. Silicon Motion Technology has set its Q3 2025 guidance at EPS. Research analysts forecast that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. Silicon Motion Technology's payout ratio is currently 83.97%.

Silicon Motion Technology Company 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.