Silicon Motion Technology Corporation $SIMO Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,066 shares of the semiconductor producer’s stock, valued at approximately $2,258,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SIMO. Hawk Ridge Capital Management LP boosted its position in Silicon Motion Technology by 48.9% during the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock worth $131,752,000 after acquiring an additional 385,568 shares during the last quarter. Schwartz Investment Counsel Inc. raised its holdings in Silicon Motion Technology by 48.6% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 401,300 shares of the semiconductor producer’s stock valued at $112,364,000 after acquiring an additional 131,300 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Silicon Motion Technology by 3.1% in the 1st quarter. Lazard Asset Management LLC now owns 781,981 shares of the semiconductor producer’s stock valued at $87,809,000 after acquiring an additional 23,403 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Silicon Motion Technology by 2.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 307,570 shares of the semiconductor producer’s stock valued at $86,120,000 after buying an additional 7,871 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Silicon Motion Technology by 112.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock worth $47,802,000 after acquiring an additional 225,221 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SIMO shares. Zacks Research lowered Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Roth Capital reissued a “buy” rating and issued a $350.00 price objective on shares of Silicon Motion Technology in a report on Thursday, July 30th. B. Riley Financial restated a “buy” rating and set a $310.00 price target (up from $288.00) on shares of Silicon Motion Technology in a report on Friday, October 30th. Craig Hallum reiterated a “buy” rating and issued a $325.00 price objective on shares of Silicon Motion Technology in a report on Friday, July 31st. Finally, Needham & Company LLC upped their target price on shares of Silicon Motion Technology from $240.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.25.

Silicon Motion Technology Stock Up 4.2%

Silicon Motion Technology stock opened at $162.76 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.29 and a beta of 1.78. The company has a current ratio of 5.68, a quick ratio of 3.65 and a debt-to-equity ratio of 1.00. Silicon Motion Technology Corporation has a twelve month low of $79.76 and a twelve month high of $355.00. The stock’s fifty day simple moving average is $241.43 and its 200-day simple moving average is $215.16.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $1.05. Silicon Motion Technology had a return on equity of 32.29% and a net margin of 19.36%. The firm had revenue of $560.22 million during the quarter, compared to analyst estimates of $529.10 million. During the same period last year, the business posted $1.00 earnings per share. Silicon Motion Technology’s revenue was up 131.5% compared to the same quarter last year. As a group, equities analysts expect that Silicon Motion Technology Corporation will post 10.20 earnings per share for the current fiscal year.

Silicon Motion Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.5750 per share. This is a boost from Silicon Motion Technology’s previous quarterly dividend of $0.50. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 5th. Silicon Motion Technology’s dividend payout ratio is presently 24.68%.

About Silicon Motion Technology

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and markets NAND flash controllers and related storage solutions. Its products help manage data storage and retrieval in devices that use NAND flash memory.

The company’s offerings include controllers for solid-state drives (SSDs), embedded storage such as eMMC and UFS, and removable storage products including memory cards and USB flash drives. Silicon Motion also develops firmware and other technologies for storage applications.

Founded in 1995, Silicon Motion serves customers around the world, including storage-device manufacturers, module makers and electronics companies.