Segantii Capital Management Ltd Reduces Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Segantii Capital Management Ltd decreased its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 16.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 697,673 shares of the semiconductor producer’s stock after selling 136,318 shares during the quarter. Silicon Motion Technology makes up about 2.3% of Segantii Capital Management Ltd’s holdings, making the stock its 13th biggest holding. Segantii Capital Management Ltd’s holdings in Silicon Motion Technology were worth $42,746,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Signaturefd LLC boosted its position in Silicon Motion Technology by 183.5% during the 3rd quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer’s stock valued at $35,000 after acquiring an additional 444 shares in the last quarter. Assetmark Inc. purchased a new stake in Silicon Motion Technology in the third quarter valued at about $51,000. CVA Family Office LLC acquired a new stake in Silicon Motion Technology in the fourth quarter worth about $65,000. Covestor Ltd grew its stake in shares of Silicon Motion Technology by 76.9% during the third quarter. Covestor Ltd now owns 1,788 shares of the semiconductor producer’s stock worth $92,000 after acquiring an additional 777 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in shares of Silicon Motion Technology by 1,499.5% during the third quarter. Wolverine Asset Management LLC now owns 3,199 shares of the semiconductor producer’s stock valued at $164,000 after acquiring an additional 2,999 shares in the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Down 2.3 %

Shares of NASDAQ:SIMO traded down $1.82 during trading on Thursday, hitting $76.90. 316,777 shares of the stock traded hands, compared to its average volume of 447,093. The company has a fifty day moving average price of $75.17 and a two-hundred day moving average price of $66.21. Silicon Motion Technology Co. has a 52-week low of $49.50 and a 52-week high of $95.33. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 44.38, a P/E/G ratio of 3.98 and a beta of 0.87.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.77%. The business had revenue of $202.38 million for the quarter, compared to analyst estimates of $197.60 million. On average, equities research analysts predict that Silicon Motion Technology Co. will post 2.65 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.60%. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology’s payout ratio is currently 113.07%.

Analysts Set New Price Targets

SIMO has been the topic of several research analyst reports. Susquehanna boosted their target price on shares of Silicon Motion Technology from $100.00 to $110.00 and gave the stock a “positive” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a report on Monday. B. Riley raised their target price on Silicon Motion Technology from $101.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Morgan Stanley raised Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $88.00 in a report on Monday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $91.13.

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.