Segantii Capital Management Ltd Has $42.75 Million Stake in Silicon Motion Technology Co. (NASDAQ:SIMO)

Segantii Capital Management Ltd lowered its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 16.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 697,673 shares of the semiconductor producer’s stock after selling 136,318 shares during the period. Silicon Motion Technology comprises 2.3% of Segantii Capital Management Ltd’s portfolio, making the stock its 13th largest holding. Segantii Capital Management Ltd owned approximately 2.09% of Silicon Motion Technology worth $42,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpine Associates Management Inc. raised its position in Silicon Motion Technology by 66.9% in the third quarter. Alpine Associates Management Inc. now owns 952,214 shares of the semiconductor producer’s stock worth $48,801,000 after purchasing an additional 381,648 shares in the last quarter. Hawk Ridge Capital Management LP raised its stake in Silicon Motion Technology by 63.1% during the third quarter. Hawk Ridge Capital Management LP now owns 944,559 shares of the semiconductor producer’s stock worth $48,409,000 after acquiring an additional 365,461 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $41,989,000 after acquiring an additional 758,640 shares during the period. Cooper Creek Partners Management LLC boosted its stake in shares of Silicon Motion Technology by 771.4% in 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 purchasing an additional 673,278 shares in the last quarter. Finally, Reinhart Partners LLC. grew its holdings in shares of Silicon Motion Technology by 62.8% in the 4th quarter. Reinhart Partners LLC. now owns 700,748 shares of the semiconductor producer’s stock worth $42,935,000 after purchasing an additional 270,202 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

SIMO traded down $1.82 during trading on Thursday, reaching $76.90. 316,777 shares of the company’s stock were exchanged, compared to its average volume of 447,093. Silicon Motion Technology Co. has a fifty-two week low of $49.50 and a fifty-two week high of $95.33. The firm has a market capitalization of $2.59 billion, a PE ratio of 44.38, a P/E/G ratio of 3.98 and a beta of 0.87. The company’s fifty day moving average price is $75.17 and its 200-day moving average price is $66.21.

Silicon Motion Technology (NASDAQ:SIMO) 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 firm 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 7.77% and a net margin of 8.34%. Research analysts forecast that Silicon Motion Technology Co. will post 2.65 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company 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 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, May 8th. Silicon Motion Technology’s payout ratio is presently 113.07%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SIMO shares. B. Riley upped their price objective on shares of Silicon Motion Technology from $101.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday. Craig Hallum lifted their price objective on Silicon Motion Technology from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Monday. Susquehanna raised their target price on Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a research note on Monday. Morgan Stanley raised shares of Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $88.00 in a report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Silicon Motion Technology in a research note on Monday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Silicon Motion Technology currently has an average rating of “Buy” and a consensus 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.