Stock Traders Purchase High Volume of Silicon Motion Technology Call Options (NASDAQ:SIMO)

Silicon Motion Technology Co. (NASDAQ:SIMO - Get Free Report) was the target of some unusual options trading activity on Friday. Traders acquired 2,436 call options on the company. This represents an increase of approximately 90% compared to the average volume of 1,283 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SIMO. Parallel Advisors LLC raised its position in Silicon Motion Technology by 154.9% in the 4th quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer's stock valued at $34,000 after purchasing an additional 333 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Silicon Motion Technology by 183.5% during the third quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer's stock worth $35,000 after buying an additional 444 shares during the last quarter. Assetmark Inc. acquired a new position in Silicon Motion Technology in the 3rd quarter valued at $51,000. CVA Family Office LLC acquired a new stake in shares of Silicon Motion Technology in the 4th quarter worth $65,000. Finally, Covestor Ltd boosted its holdings in shares of Silicon Motion Technology by 76.9% in the third quarter. Covestor Ltd now owns 1,788 shares of the semiconductor producer's stock valued at $92,000 after acquiring an additional 777 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SIMO. StockNews.com upgraded shares of Silicon Motion Technology from a "hold" rating to a "buy" rating in a report on Friday. Craig Hallum raised their price target on Silicon Motion Technology from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, February 7th. B. Riley raised their price target on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. Needham & Company LLC boosted their price objective on shares of Silicon Motion Technology from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $85.00 price target on shares of Silicon Motion Technology in a report on Friday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $87.57.

Silicon Motion Technology Stock Up 0.8 %

Shares of SIMO stock traded up $0.55 during trading hours on Friday, hitting $73.96. 1,200,142 shares of the company's stock were exchanged, compared to its average volume of 443,884. The firm has a 50 day moving average of $74.63 and a two-hundred day moving average of $65.64. Silicon Motion Technology has a fifty-two week low of $49.50 and a fifty-two week high of $95.33. The firm has a market cap of $2.44 billion, a P/E ratio of 46.81, a P/E/G ratio of 3.86 and a beta of 0.87.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.12. The company had revenue of $202.38 million during the quarter, compared to the consensus estimate of $197.60 million. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. On average, equities analysts forecast that Silicon Motion Technology will post 2.65 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology's dividend payout ratio (DPR) is presently 125.95%.

About Silicon Motion Technology

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.