Silicon Motion Technology Co. (NASDAQ:SIMO) Stock Position Raised by Inspire Advisors LLC

Inspire Advisors LLC lifted its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,026 shares of the semiconductor producer’s stock after buying an additional 467 shares during the period. Inspire Advisors LLC’s holdings in Silicon Motion Technology were worth $704,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SIMO. Advisors Asset Management Inc. grew its position in shares of Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after buying an additional 251 shares during the last quarter. GAMMA Investing LLC grew its position in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after purchasing an additional 484 shares during the last quarter. Blue Trust Inc. grew its position in Silicon Motion Technology by 64.7% in the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after purchasing an additional 883 shares during the last quarter. Van ECK Associates Corp bought a new position in Silicon Motion Technology in the 3rd quarter worth about $151,000. Finally, Choreo LLC bought a new position in Silicon Motion Technology in the 4th quarter worth about $209,000. Institutional investors own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SIMO. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Silicon Motion Technology in a research report on Friday, February 7th. StockNews.com cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.63.

Silicon Motion Technology Trading Up 6.5 %

Shares of NASDAQ:SIMO opened at $52.80 on Wednesday. The company has a 50 day moving average of $54.25 and a 200-day moving average of $55.89. The firm has a market cap of $1.78 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a twelve month low of $48.81 and a twelve month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. Equities research analysts forecast that Silicon Motion Technology Co. will post 3.08 EPS for the current year.

Silicon Motion Technology announced that its board has approved a stock repurchase plan on Wednesday, February 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the semiconductor producer to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Silicon Motion Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.79%. The ex-dividend date was Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio is presently 74.35%.

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.