Roubaix Capital LLC Purchases Shares of 42,743 Silicon Motion Technology Co. (NASDAQ:SIMO)

Roubaix Capital LLC bought a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 42,743 shares of the semiconductor producer's stock, valued at approximately $2,619,000. Silicon Motion Technology makes up approximately 1.8% of Roubaix Capital LLC's portfolio, making the stock its 27th biggest position. Roubaix Capital LLC owned 0.13% of Silicon Motion Technology as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SIMO. Wellington Management Group LLP boosted its position in Silicon Motion Technology by 1,250.9% during the third quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer's stock worth $41,989,000 after purchasing an additional 758,640 shares in the last quarter. Cooper Creek Partners Management LLC lifted its position in shares of Silicon Motion Technology by 771.4% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer's stock valued at $38,978,000 after buying an additional 673,278 shares in the last quarter. Invesco Ltd. acquired a new stake in Silicon Motion Technology in the 3rd quarter valued at $32,024,000. Segantii Capital Management Ltd increased its holdings in Silicon Motion Technology by 178.0% in the 3rd quarter. Segantii Capital Management Ltd now owns 833,991 shares of the semiconductor producer's stock worth $42,742,000 after acquiring an additional 533,991 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its holdings in Silicon Motion Technology by 1,811.3% in the 3rd quarter. Hudson Bay Capital Management LP now owns 503,834 shares of the semiconductor producer's stock worth $25,821,000 after acquiring an additional 477,473 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock traded down $0.69 during trading on Friday, reaching $76.21. 472,287 shares of the company were exchanged, compared to its average volume of 386,987. The stock's 50 day simple moving average is $75.38 and its two-hundred day simple moving average is $66.61. The company has a market capitalization of $2.57 billion, a P/E ratio of 43.30, a PEG ratio of 4.00 and a beta of 0.87. Silicon Motion Technology Co. has a 52-week low of $49.50 and a 52-week high of $95.33.

Silicon Motion Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $2.00 annualized dividend and a dividend yield of 2.62%. Silicon Motion Technology's payout ratio is 113.07%.

Analyst Ratings Changes

SIMO has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Silicon Motion Technology from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $59.00 to $88.00 in a research report on Monday, May 6th. StockNews.com upgraded Silicon Motion Technology from a "hold" rating to a "buy" rating in a report on Friday, May 3rd. Craig Hallum increased their target price on Silicon Motion Technology from $80.00 to $96.00 and gave the company a "buy" rating in a report on Monday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price target on shares of Silicon Motion Technology in a research note on Monday, May 6th. Finally, B. Riley boosted their price target on Silicon Motion Technology from $101.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday, May 6th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $91.13.

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.

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