Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 71.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,200 shares of the semiconductor producer's stock after selling 25,300 shares during the period. Handelsbanken Fonder AB's holdings in Silicon Motion Technology were worth $625,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Silicon Motion Technology by 127.3% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 60,909 shares of the semiconductor producer's stock worth $3,122,000 after acquiring an additional 34,111 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Silicon Motion Technology in the 3rd quarter valued at about $837,000. Canada Pension Plan Investment Board acquired a new stake in shares of Silicon Motion Technology during the third quarter worth $636,000. Invesco Ltd. acquired a new position in shares of Silicon Motion Technology in the third quarter valued at about $32,024,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Silicon Motion Technology in the 3rd quarter valued at about $15,512,000. Institutional investors and hedge funds own 78.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Craig Hallum boosted their price target on Silicon Motion Technology from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Wedbush restated an "outperform" rating and issued a $85.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Needham & Company LLC upped their target price on Silicon Motion Technology from $75.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. Finally, B. Riley boosted their price target on shares of Silicon Motion Technology from $93.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.57.

Silicon Motion Technology Trading Down 2.9 %

NASDAQ SIMO traded down $2.11 on Wednesday, hitting $71.70. 361,112 shares of the company were exchanged, compared to its average volume of 435,142. Silicon Motion Technology Co. has a 12 month low of $49.50 and a 12 month high of $95.33. The company has a market cap of $2.37 billion, a PE ratio of 45.89, a PEG ratio of 4.05 and a beta of 0.85. The stock has a fifty day moving average of $74.37 and a 200-day moving average of $65.41.

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

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.79%. Silicon Motion Technology's dividend payout ratio is presently 125.95%.

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.