Natixis Advisors LLC Invests $561,000 in Silicon Motion Technology Corporation (NASDAQ:SIMO)

Key Points

• Natixis Advisors LLC has acquired a new position in Silicon Motion Technology Corporation, purchasing 11,100 shares valued at approximately $561,000.
• A significant majority of Silicon Motion's stock, about 78.02%, is currently owned by institutional investors and hedge funds, indicating strong interest in the company.
• Several equities analysts have upgraded Silicon Motion Technology's stock ratings, with target prices reaching as high as $95.00, reflecting positive market sentiment.

Natixis Advisors LLC bought a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,100 shares of the semiconductor producer's stock, valued at approximately $561,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in shares of Silicon Motion Technology by 61.8% during the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock valued at $58,000 after buying an additional 440 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Silicon Motion Technology by 79.3% during the 1st quarter. Signaturefd LLC now owns 1,664 shares of the semiconductor producer's stock valued at $84,000 after buying an additional 736 shares in the last quarter. Menard Financial Group LLC purchased a new stake in shares of Silicon Motion Technology during the 4th quarter valued at approximately $88,000. LRI Investments LLC lifted its stake in shares of Silicon Motion Technology by 519.0% during the 4th quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer's stock valued at $164,000 after buying an additional 2,543 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Silicon Motion Technology by 66.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer's stock valued at $195,000 after buying an additional 1,529 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SIMO shares. Citigroup upgraded shares of Silicon Motion Technology to a "buy" rating in a research note on Wednesday, June 18th. Bank of America upgraded 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 note on Wednesday, June 18th. B. Riley restated a "buy" rating and set a $90.00 price target (up from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Roth Capital upped their price target on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Susquehanna upped their target price on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Silicon Motion Technology presently has an average rating of "Moderate Buy" and a consensus target price of $87.78.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock traded down $1.81 during midday trading on Friday, reaching $73.67. 185,354 shares of the stock were exchanged, compared to its average volume of 357,601. The company's fifty day moving average is $73.19 and its 200-day moving average is $60.14. The firm has a market cap of $2.50 billion, a PE ratio of 31.08, a PEG 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 posted its earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.15. The business had revenue of $198.68 million for the quarter, compared to analyst estimates of $180.40 million. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. Silicon Motion Technology's revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, sell-side analysts anticipate that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders 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 dividend yield of 2.7%. Silicon Motion Technology's dividend payout ratio is presently 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.