Silicon Motion Technology Corporation $SIMO Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments initiated a position in Silicon Motion, purchasing 8,066 shares valued at about $2.26 million. Institutional investors collectively own 78.02% of the company’s stock.
• Silicon Motion reported quarterly EPS of $4.35, beating the $3.30 consensus estimate, while revenue of $560.22 million rose 131.5% year over year. The company also raised its quarterly dividend from $0.50 to $0.575 per share.
• Analysts maintain a Moderate Buy consensus rating, with an average price target of $331.25.

Mirae Asset Global Investments Co. Ltd. bought a new position in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,066 shares of the semiconductor producer's stock, valued at approximately $2,258,000.

A number of other large investors also recently bought and sold shares of SIMO. Hawk Ridge Capital Management LP raised its holdings in Silicon Motion Technology by 48.9% in the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer's stock worth $131,752,000 after purchasing an additional 385,568 shares in the last quarter. Schwartz Investment Counsel Inc. increased its holdings in shares of Silicon Motion Technology by 48.6% during the third quarter. Schwartz Investment Counsel Inc. now owns 401,300 shares of the semiconductor producer's stock valued at $112,364,000 after acquiring an additional 131,300 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Silicon Motion Technology by 3.1% during the first quarter. Lazard Asset Management LLC now owns 781,981 shares of the semiconductor producer's stock valued at $87,809,000 after acquiring an additional 23,403 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Silicon Motion Technology by 2.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 307,570 shares of the semiconductor producer's stock valued at $86,120,000 after purchasing an additional 7,871 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Silicon Motion Technology by 112.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer's stock valued at $47,802,000 after purchasing an additional 225,221 shares during the last quarter. Institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Stock Performance

Shares of SIMO stock opened at $162.76 on Friday. Silicon Motion Technology Corporation has a 52-week low of $79.76 and a 52-week high of $355.00. The company has a quick ratio of 3.65, a current ratio of 5.68 and a debt-to-equity ratio of 1.00. The stock has a market cap of $5.52 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.29 and a beta of 1.78. The business has a 50-day simple moving average of $241.43 and a 200-day simple moving average of $215.16.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $529.10 million. During the same quarter in the prior year, the firm posted $1.00 EPS. The business's quarterly revenue was up 131.5% compared to the same quarter last year. On average, equities analysts expect that Silicon Motion Technology Corporation will post 10.20 EPS for the current year.

Silicon Motion Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a $0.5750 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Silicon Motion Technology's previous quarterly dividend of $0.50. Silicon Motion Technology's payout ratio is currently 24.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SIMO. Craig Hallum reiterated a "buy" rating and issued a $325.00 target price on shares of Silicon Motion Technology in a research note on Friday, July 31st. Roth Capital reaffirmed a "buy" rating and issued a $350.00 price target on shares of Silicon Motion Technology in a report on Thursday, July 30th. China Renaissance initiated coverage on shares of Silicon Motion Technology in a research note on Wednesday, October 28th. They set a "buy" rating and a $300.00 price objective for the company. Wall Street Zen lowered shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings downgraded Silicon Motion Technology from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 16th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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