Grantham Mayo Van Otterloo & Co. LLC Makes New $1.21 Million Investment in Silicon Motion Technology Corporation $SIMO

Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,100 shares of the semiconductor producer’s stock, valued at approximately $1,210,000.

A number of other institutional investors also recently modified their holdings of SIMO. Invesco Ltd. grew its position in Silicon Motion Technology by 61.3% during the 1st quarter. Invesco Ltd. now owns 1,675,648 shares of the semiconductor producer’s stock worth $84,721,000 after acquiring an additional 636,869 shares during the last quarter. Boston Partners grew its holdings in shares of Silicon Motion Technology by 77.3% during the first quarter. Boston Partners now owns 552,139 shares of the semiconductor producer’s stock worth $27,900,000 after purchasing an additional 240,737 shares during the last quarter. Neumeier Poma Investment Counsel LLC increased its stake in shares of Silicon Motion Technology by 94.3% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 353,015 shares of the semiconductor producer’s stock valued at $17,848,000 after buying an additional 171,350 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Silicon Motion Technology in the second quarter valued at about $10,990,000. Finally, Clearline Capital LP lifted its position in Silicon Motion Technology by 67.5% during the 1st quarter. Clearline Capital LP now owns 289,846 shares of the semiconductor producer’s stock worth $14,655,000 after buying an additional 116,850 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Analyst Ratings Changes

SIMO has been the subject of several research reports. Roth Capital restated a “buy” rating and issued a $120.00 price objective on shares of Silicon Motion Technology in a research report on Friday, October 31st. Susquehanna raised their price target on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wedbush set a $120.00 price objective on Silicon Motion Technology in a report on Monday, November 3rd. Finally, B. Riley increased their price objective on Silicon Motion Technology from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Silicon Motion Technology Stock Up 1.6%

SIMO stock opened at $88.96 on Monday. Silicon Motion Technology Corporation has a twelve month low of $37.21 and a twelve month high of $106.60. The company has a market cap of $3.02 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03. The business’s fifty day moving average is $92.60 and its 200-day moving average is $80.52.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $2.00 annualized dividend and a yield of 2.2%. Silicon Motion Technology’s dividend payout ratio is presently 68.73%.

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.