Brown Advisory Inc. increased its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 42.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,559 shares of the semiconductor producer’s stock after acquiring an additional 3,140 shares during the period. Brown Advisory Inc.’s holdings in Silicon Motion Technology were worth $507,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SIMO. Daiwa Securities Group Inc. bought a new stake in shares of Silicon Motion Technology during the 3rd quarter worth approximately $101,000. Advisors Preferred LLC lifted its stake in shares of Silicon Motion Technology by 451.0% during the 3rd quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock worth $128,000 after acquiring an additional 2,183 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Silicon Motion Technology during the 2nd quarter worth approximately $135,000. Summit Securities Group LLC bought a new stake in shares of Silicon Motion Technology during the 2nd quarter worth approximately $204,000. Finally, Hikari Power Ltd bought a new stake in shares of Silicon Motion Technology during the 2nd quarter worth approximately $204,000. 82.84% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on SIMO. Summit Redstone raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday. Roth Capital raised their price target on Silicon Motion Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. BidaskClub raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. ValuEngine raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, B. Riley set a $69.00 price target on Silicon Motion Technology and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $57.67.
Silicon Motion Technology Corporation (NASDAQ SIMO) opened at $53.40 on Monday. The company has a market capitalization of $1,886.52, a price-to-earnings ratio of 20.30 and a beta of 0.64. Silicon Motion Technology Corporation has a fifty-two week low of $37.37 and a fifty-two week high of $55.68.
Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Friday, October 27th. The semiconductor producer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $127.24 million. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. Silicon Motion Technology’s quarterly revenue was down 19.8% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Thursday, November 9th were issued a dividend of $0.30 per share. This is an increase from Silicon Motion Technology’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, November 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 35.04%.
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Silicon Motion Technology Company Profile
Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.
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