Silicon Motion Technology Corporation $SIMO Stock Acquired by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its Silicon Motion Technology stake by 2.6% to 307,570 shares, worth approximately $86.1 million. Institutional investors collectively own 78.02% of the company.
• Analysts remain broadly positive, with nine Buy ratings and one Hold rating, a consensus “Moderate Buy” recommendation, and an average price target of $341.43.
• Silicon Motion reported strong quarterly results, with EPS of $2.43 and revenue of $451 million, up 127% year over year. The company also raised its quarterly dividend to $0.575 per share, representing a 1.0% annualized yield.

Robeco Institutional Asset Management B.V. raised its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 307,570 shares of the semiconductor producer's stock after purchasing an additional 7,871 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.91% of Silicon Motion Technology worth $86,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Diversify Advisory Services LLC boosted its stake in shares of Silicon Motion Technology by 3.4% during the third quarter. Diversify Advisory Services LLC now owns 21,805 shares of the semiconductor producer's stock valued at $6,105,000 after purchasing an additional 726 shares during the period. IFP Advisors Inc increased its stake in shares of Silicon Motion Technology by 37.2% in the third quarter. IFP Advisors Inc now owns 667 shares of the semiconductor producer's stock worth $187,000 after buying an additional 181 shares during the period. Stronghold Wealth Management L.L.C. increased its stake in shares of Silicon Motion Technology by 17.8% in the third quarter. Stronghold Wealth Management L.L.C. now owns 740 shares of the semiconductor producer's stock worth $207,000 after buying an additional 112 shares during the period. Mirador Capital Partners LP increased its stake in shares of Silicon Motion Technology by 6.2% in the third quarter. Mirador Capital Partners LP now owns 9,268 shares of the semiconductor producer's stock worth $2,595,000 after buying an additional 544 shares during the period. Finally, WoodTrust Financial Corp bought a new stake in Silicon Motion Technology during the 3rd quarter valued at $248,000. Hedge funds and other institutional investors own 78.02% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SIMO. Needham & Company LLC upped their price target on shares of Silicon Motion Technology from $240.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Zacks Research lowered shares of Silicon Motion Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Craig Hallum reissued a "buy" rating and issued a $325.00 price target on shares of Silicon Motion Technology in a report on Friday, July 31st. B. Riley Financial boosted their price objective on shares of Silicon Motion Technology from $312.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Roth Capital reaffirmed a "buy" rating and set a $350.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $341.43.

Silicon Motion Technology Stock Up 4.0%

NASDAQ:SIMO opened at $222.30 on Thursday. The firm's fifty day simple moving average is $256.16 and its 200 day simple moving average is $251.19. The stock has a market cap of $7.54 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 0.38 and a beta of 1.69. Silicon Motion Technology Corporation has a twelve month low of $79.76 and a twelve month high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The semiconductor producer reported $2.43 EPS for the quarter, topping the consensus estimate of $2.13 by $0.30. Silicon Motion Technology had a net margin of 22.06% and a return on equity of 32.04%. The business had revenue of $451.00 million during the quarter, compared to analyst estimates of $403.41 million. During the same period in the prior year, the business earned $0.69 EPS. The company's revenue for the quarter was up 127.0% on a year-over-year basis. On average, analysts expect that Silicon Motion Technology Corporation will post 10.60 EPS for the current fiscal year.

Silicon Motion Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.5750 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.0%. 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 presently 26.96%.

About Silicon Motion Technology

Silicon Motion Technology Corporation is a fabless semiconductor company that designs, develops and markets NAND flash storage controllers. Its products manage the storage, performance, reliability and power consumption of data stored in NAND flash memory and are used in a range of consumer, mobile, computing and industrial applications.

The company's product portfolio includes controllers for solid-state drives (SSDs), embedded storage products such as eMMC and UFS devices, and other flash-based storage solutions.

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