Skylands Capital LLC Trims Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Skylands Capital LLC cut its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 19.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,550 shares of the semiconductor producer’s stock after selling 18,400 shares during the quarter. Skylands Capital LLC owned approximately 0.23% of Silicon Motion Technology worth $4,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Silicon Motion Technology by 139.5% during the 3rd quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock valued at $83,000 after acquiring an additional 795 shares during the period. Farther Finance Advisors LLC grew its holdings in Silicon Motion Technology by 46.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,925 shares of the semiconductor producer’s stock valued at $238,000 after buying an additional 1,244 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Silicon Motion Technology by 95.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock valued at $7,793,000 after buying an additional 62,733 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Silicon Motion Technology in the third quarter valued at $151,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Silicon Motion Technology by 28.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 376,324 shares of the semiconductor producer’s stock valued at $22,858,000 after purchasing an additional 83,992 shares in the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SIMO shares. Craig Hallum decreased their target price on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Susquehanna dropped their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Silicon Motion Technology in a report on Friday, February 7th. Finally, StockNews.com downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.63.

Silicon Motion Technology Trading Down 1.5 %

Silicon Motion Technology stock opened at $58.80 on Monday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 21.86, a PEG ratio of 1.36 and a beta of 0.79. The stock has a fifty day moving average price of $54.65 and a 200 day moving average price of $56.67. Silicon Motion Technology Co. has a 52 week low of $48.81 and a 52 week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. As a group, equities analysts predict that Silicon Motion Technology Co. will post 3.08 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 74.35%.

Silicon Motion Technology announced that its board has authorized a stock repurchase program on Wednesday, February 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor producer to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Silicon Motion Technology Company 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.