IHT Wealth Management LLC Purchases 1,468 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

IHT Wealth Management LLC raised its position in Silicon Motion Technology Co. (NASDAQ:SIMO) by 30.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,221 shares of the semiconductor producer’s stock after purchasing an additional 1,468 shares during the period. IHT Wealth Management LLC’s holdings in Silicon Motion Technology were worth $378,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of Silicon Motion Technology by 129.4% in the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after buying an additional 251 shares in the last quarter. Blue Trust Inc. increased its stake in Silicon Motion Technology by 3,971.4% in the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after acquiring an additional 556 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Silicon Motion Technology in the 2nd quarter valued at about $139,000. XTX Topco Ltd bought a new stake in shares of Silicon Motion Technology during the 2nd quarter valued at about $220,000. Finally, Van ECK Associates Corp purchased a new position in shares of Silicon Motion Technology during the third quarter worth about $151,000. 78.02% of the stock is owned by institutional investors.

Silicon Motion Technology Trading Up 1.4 %

NASDAQ SIMO opened at $56.98 on Monday. The stock has a 50-day moving average of $55.92 and a 200-day moving average of $65.36. Silicon Motion Technology Co. has a 1-year low of $50.50 and a 1-year high of $85.87. The firm has a market cap of $1.92 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts forecast that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, November 14th. Silicon Motion Technology’s payout ratio is 75.76%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SIMO shares. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Needham & Company LLC dropped their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Roth Mkm reduced their target price on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Bank of America lowered Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $90.00 to $60.00 in a research note on Friday, August 16th. Finally, Susquehanna reduced their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

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.