Y Intercept Hong Kong Ltd Cuts Stock Position in Silicon Motion Technology Corporation (NASDAQ:SIMO)

Y Intercept Hong Kong Ltd lessened its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 52.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,886 shares of the semiconductor producer's stock after selling 5,363 shares during the period. Y Intercept Hong Kong Ltd's holdings in Silicon Motion Technology were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC grew its stake in Silicon Motion Technology by 7.2% in the 4th quarter. Quadrant Capital Group LLC now owns 3,959 shares of the semiconductor producer's stock worth $214,000 after buying an additional 267 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Silicon Motion Technology by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 36,248 shares of the semiconductor producer's stock worth $1,959,000 after purchasing an additional 300 shares during the period. Twinbeech Capital LP lifted its position in shares of Silicon Motion Technology by 4.2% in the 4th quarter. Twinbeech Capital LP now owns 10,773 shares of the semiconductor producer's stock worth $582,000 after purchasing an additional 438 shares during the period. Parallel Advisors LLC lifted its position in 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 acquiring an additional 440 shares during the period. Finally, Signaturefd LLC lifted its position in 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 acquiring an additional 736 shares during the period. Institutional investors own 78.02% of the company's stock.

Analyst Upgrades and Downgrades

SIMO has been the subject of a number of analyst reports. Bank of America upgraded shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Wednesday, June 18th. Susquehanna raised their price objective on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday. B. Riley reaffirmed a "buy" rating and set a $90.00 price target (up previously from $75.00) on shares of Silicon Motion Technology in a report on Thursday, June 5th. Craig Hallum boosted their price target on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Roth Capital boosted their price target on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.78.

Silicon Motion Technology Stock Performance

SIMO stock traded down $0.12 during mid-day trading on Friday, reaching $76.42. 447,161 shares of the stock traded hands, compared to its average volume of 346,252. Silicon Motion Technology Corporation has a one year low of $37.21 and a one year high of $85.11. The stock has a market capitalization of $2.60 billion, a PE ratio of 32.24, a PEG ratio of 12.37 and a beta of 0.92. The business has a 50-day moving average price of $70.62 and a two-hundred day moving average price of $58.27.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.15. The firm had revenue of $198.68 million for the quarter, compared to analysts' expectations of $180.40 million. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.15%. The business's revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. On average, equities analysts expect that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid 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 2.6%. Silicon Motion Technology's dividend payout ratio is 71.33%.

Silicon Motion Technology 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.