Loomis Sayles & Co. L P lifted its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 739,425 shares of the semiconductor producer’s stock after buying an additional 95,991 shares during the period. Loomis Sayles & Co. L P’s holdings in Silicon Motion Technology were worth $43,914,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Silicon Motion Technology during the 1st quarter valued at $27,000. International Assets Investment Management LLC boosted its position in Silicon Motion Technology by 100.0% in the 1st quarter. International Assets Investment Management LLC now owns 1,400 shares of the semiconductor producer’s stock valued at $76,000 after buying an additional 700 shares during the last quarter. Bank of Montreal Can boosted its position in Silicon Motion Technology by 40.6% in the 1st quarter. Bank of Montreal Can now owns 1,429 shares of the semiconductor producer’s stock valued at $99,000 after buying an additional 413 shares during the last quarter. FORA Capital LLC bought a new position in Silicon Motion Technology in the 1st quarter valued at $175,000. Finally, Twinbeech Capital LP bought a new position in Silicon Motion Technology in the 1st quarter valued at $205,000. 72.42% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on SIMO. Needham & Company LLC increased their price objective on Silicon Motion Technology from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. Morgan Stanley restated an “underweight” rating on shares of Silicon Motion Technology in a research report on Tuesday, May 25th. B. Riley raised their price objective on Silicon Motion Technology from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Finally, Roth Capital raised their price objective on Silicon Motion Technology from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $70.00.
Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Wednesday, May 5th. The semiconductor producer reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.27. Silicon Motion Technology had a return on equity of 15.07% and a net margin of 14.98%. The firm had revenue of $182.40 million for the quarter, compared to the consensus estimate of $180.00 million. Equities analysts forecast that Silicon Motion Technology Co. will post 4.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 19th. Shareholders of record on Thursday, August 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, August 4th. Silicon Motion Technology’s dividend payout ratio is 60.96%.
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. It offers SSDs used in PCs and other devices, as well as eMMC and UFS mobile embedded storage used in smartphones and IOT devices. The company also provides enterprise-grade SSDs used in data centers; and small form-factor specialized SSDs used in industrial, commercial, and automotive applications.
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