Reinhart Partners LLC. Buys 29,351 Shares of Silicon Motion Technology Corporation $SIMO

Reinhart Partners LLC. boosted its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,500,934 shares of the semiconductor producer’s stock after acquiring an additional 29,351 shares during the period. Silicon Motion Technology accounts for 4.6% of Reinhart Partners LLC.’s portfolio, making the stock its 3rd biggest position. Reinhart Partners LLC.’s holdings in Silicon Motion Technology were worth $142,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Silicon Motion Technology by 169.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 366 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Silicon Motion Technology by 118.3% during the second quarter. GAMMA Investing LLC now owns 976 shares of the semiconductor producer’s stock worth $73,000 after buying an additional 529 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Silicon Motion Technology during the second quarter worth $75,000. Headlands Technologies LLC bought a new position in Silicon Motion Technology during the second quarter worth $108,000. Finally, Blue Trust Inc. lifted its holdings in Silicon Motion Technology by 53.3% in the second quarter. Blue Trust Inc. now owns 2,026 shares of the semiconductor producer’s stock valued at $152,000 after buying an additional 704 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analysts Forecast Growth

SIMO has been the topic of a number of research analyst reports. Roth Capital reaffirmed a “buy” rating and set a $120.00 price target on shares of Silicon Motion Technology in a research report on Friday, October 31st. Susquehanna boosted their price objective on Silicon Motion Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their target price on Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. B. Riley lifted their target price on Silicon Motion Technology from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wall Street Zen upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.13.

Silicon Motion Technology Price Performance

Shares of Silicon Motion Technology stock opened at $112.87 on Friday. The business has a 50-day simple moving average of $93.33 and a 200 day simple moving average of $87.41. Silicon Motion Technology Corporation has a one year low of $37.21 and a one year high of $123.30. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 1.26 and a beta of 1.05.

Silicon Motion Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 6th. Silicon Motion Technology’s dividend payout ratio is presently 68.73%.

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.