Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Acquired by Inspire Advisors LLC

Inspire Advisors LLC lifted its position in Silicon Motion Technology Co. (NASDAQ:SIMO) by 3.7% in the 4th quarter, Holdings Channel reports. The fund owned 13,026 shares of the semiconductor producer’s stock after buying an additional 467 shares during the period. Inspire Advisors LLC’s holdings in Silicon Motion Technology were worth $704,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SIMO. Advisors Asset Management Inc. lifted its position in shares of Silicon Motion Technology by 129.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after acquiring an additional 251 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after acquiring an additional 484 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Silicon Motion Technology by 64.7% in the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock valued at $122,000 after acquiring an additional 883 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at approximately $151,000. Finally, Choreo LLC purchased a new stake in shares of Silicon Motion Technology in the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SIMO. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Silicon Motion Technology in a research report on Friday, February 7th. StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.63.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $52.80 on Wednesday. The firm has a market cap of $1.78 billion, a PE ratio of 19.63, a P/E/G ratio of 1.36 and a beta of 0.71. The firm’s 50 day moving average price is $54.25 and its two-hundred day moving average price is $55.89. Silicon Motion Technology Co. has a twelve month low of $48.81 and a twelve month high of $85.87.

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

Silicon Motion Technology declared that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the semiconductor producer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Silicon Motion Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.79%. Silicon Motion Technology’s dividend payout ratio (DPR) is 74.35%.

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.