Henry James International Management Inc. Sells 894 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Henry James International Management Inc. decreased its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 10.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,024 shares of the semiconductor producer’s stock after selling 894 shares during the quarter. Henry James International Management Inc.’s holdings in Silicon Motion Technology were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Silicon Motion Technology by 154.9% during 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. Janney Montgomery Scott LLC grew its position in shares of Silicon Motion Technology by 0.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 73,150 shares of the semiconductor producer’s stock valued at $4,482,000 after purchasing an additional 341 shares in the last quarter. Assetmark Inc. grew its position in shares of Silicon Motion Technology by 34.5% during the 4th quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock valued at $82,000 after purchasing an additional 342 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Silicon Motion Technology by 48.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the semiconductor producer’s stock worth $155,000 after acquiring an additional 821 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in Silicon Motion Technology in the fourth quarter worth $65,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Performance

Shares of NASDAQ:SIMO traded down $0.18 during trading on Tuesday, reaching $79.64. 284,674 shares of the stock traded hands, compared to its average volume of 410,646. The stock has a 50-day moving average of $80.04 and a two-hundred day moving average of $73.89. Silicon Motion Technology Co. has a 52-week low of $49.50 and a 52-week high of $95.33. The stock has a market cap of $2.68 billion, a P/E ratio of 45.25, a price-to-earnings-growth ratio of 0.75 and a beta of 0.86.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.78%. The firm had revenue of $189.31 million for the quarter, compared to analysts’ expectations of $180.23 million. Sell-side analysts expect that Silicon Motion Technology Co. will post 2.83 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 2.51%. Silicon Motion Technology’s payout ratio is presently 113.07%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SIMO shares. Needham & Company LLC upped their target price on shares of Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Morgan Stanley upgraded shares of Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $59.00 to $88.00 in a research report on Monday, May 6th. Craig Hallum upped their price target on shares of Silicon Motion Technology from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Susquehanna upped their price target on shares of Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a research report on Monday, May 6th. Finally, StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $93.13.

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.