F M Investments LLC Sells 1,217 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

F M Investments LLC lessened its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,815 shares of the semiconductor producer’s stock after selling 1,217 shares during the quarter. F M Investments LLC’s holdings in Silicon Motion Technology were worth $9,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 556 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Silicon Motion Technology during the second quarter valued at about $139,000. LRI Investments LLC purchased a new position in shares of Silicon Motion Technology in the 1st quarter valued at approximately $150,000. PNC Financial Services Group Inc. boosted its stake in Silicon Motion Technology by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the semiconductor producer’s stock worth $155,000 after purchasing an additional 821 shares in the last quarter. Finally, HBK Sorce Advisory LLC purchased a new stake in Silicon Motion Technology during the 1st quarter worth approximately $204,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Craig Hallum cut their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Bank of America downgraded shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and cut their price target for the stock from $90.00 to $60.00 in a report on Friday, August 16th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Trading Down 1.9 %

SIMO stock traded down $1.03 during midday trading on Friday, reaching $52.78. The stock had a trading volume of 242,587 shares, compared to its average volume of 228,128. The company’s fifty day simple moving average is $58.37 and its 200 day simple moving average is $69.20. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84. Silicon Motion Technology Co. has a 52-week low of $52.15 and a 52-week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Silicon Motion Technology had a return on equity of 11.72% and a net margin of 10.90%. The business had revenue of $210.67 million during the quarter, compared to analyst estimates of $206.75 million. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s revenue was up 50.1% compared to the same quarter last year. Sell-side analysts predict that Silicon Motion Technology Co. will post 2.86 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio is presently 75.38%.

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.