Northcape Capital Pty Ltd Boosts Stake in Silicon Motion Technology Corp. (NASDAQ:SIMO)

Northcape Capital Pty Ltd grew its holdings in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 713,670 shares of the semiconductor producer’s stock after purchasing an additional 48,707 shares during the quarter. Silicon Motion Technology comprises 9.5% of Northcape Capital Pty Ltd’s portfolio, making the stock its 6th biggest holding. Northcape Capital Pty Ltd owned approximately 2.02% of Silicon Motion Technology worth $37,796,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SIMO. Wells Fargo & Company MN lifted its stake in shares of Silicon Motion Technology by 236.2% in the third quarter. Wells Fargo & Company MN now owns 197,230 shares of the semiconductor producer’s stock valued at $9,473,000 after buying an additional 138,571 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Silicon Motion Technology by 12.9% in the third quarter. Advisors Asset Management Inc. now owns 26,799 shares of the semiconductor producer’s stock valued at $1,287,000 after buying an additional 3,060 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Silicon Motion Technology by 69.2% in the third quarter. Ameriprise Financial Inc. now owns 144,631 shares of the semiconductor producer’s stock valued at $6,947,000 after buying an additional 59,175 shares during the period. California Public Employees Retirement System lifted its stake in shares of Silicon Motion Technology by 3.0% in the third quarter. California Public Employees Retirement System now owns 69,103 shares of the semiconductor producer’s stock valued at $3,319,000 after buying an additional 2,003 shares during the period. Finally, Formula Growth Ltd. bought a new stake in shares of Silicon Motion Technology in the third quarter valued at about $1,689,000. 83.10% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on SIMO. Nomura cut shares of Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 target price for the company. in a research note on Wednesday, January 10th. Zacks Investment Research cut shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. BidaskClub cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Summit Redstone upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, KeyCorp restated a “buy” rating and set a $54.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Silicon Motion Technology currently has an average rating of “Buy” and an average price target of $56.56.

Shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) traded up $0.02 on Wednesday, reaching $44.69. 460,500 shares of the company’s stock were exchanged, compared to its average volume of 733,586. The company has a market capitalization of $1,578.10, a PE ratio of 21.17 and a beta of 0.46. Silicon Motion Technology Corp. has a 1 year low of $39.91 and a 1 year high of $56.51.

The company also recently disclosed a None dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.298 per share. This represents a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, February 9th. Silicon Motion Technology’s payout ratio is 47.60%.

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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.

Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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