8,875 Shares in Silicon Motion Technology Corporation $SIMO Bought by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. purchased a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,875 shares of the semiconductor producer’s stock, valued at approximately $2,485,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hawk Ridge Capital Management LP grew its position in shares of Silicon Motion Technology by 48.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock worth $131,752,000 after buying an additional 385,568 shares during the period. Schwartz Investment Counsel Inc. lifted its position in shares of Silicon Motion Technology by 48.6% during 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 period. Lazard Asset Management LLC lifted its position in shares of Silicon Motion Technology by 3.1% during 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 period. Robeco Institutional Asset Management B.V. boosted its stake in Silicon Motion Technology by 2.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 307,570 shares of the semiconductor producer’s stock worth $86,120,000 after acquiring an additional 7,871 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Silicon Motion Technology by 112.3% during the first 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 in the last quarter. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Price Performance

Shares of NASDAQ:SIMO opened at $162.76 on Monday. The company has a quick ratio of 3.65, a current ratio of 5.68 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 50 day moving average is $241.43 and its 200-day moving average is $215.16. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.29 and a beta of 1.78.

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

Silicon Motion Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.5750 per share. This is an increase 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 is Thursday, November 5th. Silicon Motion Technology’s dividend payout ratio is 24.78%.

Analysts Set New Price Targets

Several research firms have weighed in on SIMO. Susquehanna lifted their price target on shares of Silicon Motion Technology from $275.00 to $350.00 and gave the company a “positive” rating in a research note on Friday, July 31st. China Renaissance initiated coverage on shares of Silicon Motion Technology in a report on Wednesday, October 28th. They set a “buy” rating and a $300.00 price objective on the stock. Roth Capital reissued a “buy” rating and set a $350.00 price objective on shares of Silicon Motion Technology in a research report on Thursday, July 30th. B. Riley Financial restated a “buy” rating and issued a $310.00 target price (up from $288.00) on shares of Silicon Motion Technology in a research note on Friday, October 30th. Finally, Zacks Research downgraded Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Silicon Motion Technology has an average rating of “Moderate Buy” and a consensus target price of $331.25.

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.