Segantii Capital Management Ltd cut its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 697,673 shares of the semiconductor producer's stock after selling 136,318 shares during the quarter. Silicon Motion Technology accounts for about 2.3% of Segantii Capital Management Ltd's portfolio, making the stock its 13th biggest holding. Segantii Capital Management Ltd owned about 2.09% of Silicon Motion Technology worth $42,746,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Silicon Motion Technology by 127.3% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 60,909 shares of the semiconductor producer's stock valued at $3,122,000 after acquiring an additional 34,111 shares in the last quarter. New York State Common Retirement Fund bought a new position in Silicon Motion Technology in the third quarter valued at approximately $837,000. Canada Pension Plan Investment Board acquired a new position in shares of Silicon Motion Technology during the 3rd quarter worth approximately $636,000. Invesco Ltd. acquired a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at approximately $32,024,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Silicon Motion Technology in the third quarter valued at $15,512,000. Institutional investors own 78.02% of the company's stock.
Silicon Motion Technology Stock Performance
NASDAQ:SIMO traded down $1.82 during mid-day trading on Thursday, hitting $76.90. 316,777 shares of the stock were exchanged, compared to its average volume of 447,695. The firm's 50-day simple moving average is $75.29 and its 200 day simple moving average is $66.28. Silicon Motion Technology Co. has a fifty-two week low of $49.50 and a fifty-two week high of $95.33. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 3.98 and a beta of 0.87.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.12. Silicon Motion Technology had a return on equity of 7.77% and a net margin of 8.34%. The company had revenue of $202.38 million during the quarter, compared to the consensus estimate of $197.60 million. On average, analysts predict that Silicon Motion Technology Co. will post 2.65 EPS for the current fiscal year.
Silicon Motion Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology's dividend payout ratio is currently 113.07%.
Analyst Ratings Changes
Several analysts have issued reports on the stock. B. Riley upped their price target on shares of Silicon Motion Technology from $101.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research note on Monday. Susquehanna lifted their price target on Silicon Motion Technology from $100.00 to $110.00 and gave the stock a "positive" rating in a report on Monday. Wedbush restated an "outperform" rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research note on Friday, May 3rd. Finally, 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 research note on Thursday, February 8th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Silicon Motion Technology presently has a consensus rating of "Buy" and a consensus target price of $91.13.
Read Our Latest Stock Analysis on Silicon Motion Technology
About Silicon Motion Technology
(
Free Report)
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.
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