Systematic Financial Management LP lifted its stake in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 309,271 shares of the semiconductor producer’s stock after acquiring an additional 11,653 shares during the quarter. Systematic Financial Management LP owned approximately 0.88% of Silicon Motion Technology worth $16,379,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Silicon Motion Technology by 236.2% during the 3rd quarter. Wells Fargo & Company MN now owns 197,230 shares of the semiconductor producer’s stock valued at $9,473,000 after acquiring an additional 138,571 shares during the period. Advisors Asset Management Inc. lifted its holdings in Silicon Motion Technology by 12.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 26,799 shares of the semiconductor producer’s stock worth $1,287,000 after purchasing an additional 3,060 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Silicon Motion Technology by 69.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 144,631 shares of the semiconductor producer’s stock worth $6,947,000 after purchasing an additional 59,175 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Silicon Motion Technology by 3.0% in the 3rd quarter. California Public Employees Retirement System now owns 69,103 shares of the semiconductor producer’s stock worth $3,319,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Northcape Capital Pty Ltd lifted its holdings in Silicon Motion Technology by 8.0% in the 3rd quarter. Northcape Capital Pty Ltd now owns 664,963 shares of the semiconductor producer’s stock worth $31,938,000 after purchasing an additional 49,310 shares in the last quarter. Institutional investors own 82.38% of the company’s stock.
A number of research firms recently commented on SIMO. Zacks Investment Research cut Silicon Motion Technology from a “hold” rating to a “sell” rating in a report on Monday, February 12th. BidaskClub cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Friday, February 9th. B. Riley set a $69.00 price target on Silicon Motion Technology and gave the stock a “buy” rating in a report on Wednesday, October 25th. KeyCorp reissued a “buy” rating and issued a $54.00 price target on shares of Silicon Motion Technology in a report on Wednesday, February 7th. Finally, ValuEngine raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Silicon Motion Technology has a consensus rating of “Buy” and a consensus price target of $56.56.
Shares of Silicon Motion Technology Corp. (SIMO) opened at $45.36 on Wednesday. The stock has a market capitalization of $1,581.64, a P/E ratio of 21.81 and a beta of 0.47. Silicon Motion Technology Corp. has a twelve month low of $39.91 and a twelve month high of $56.51.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Thursday, May 10th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.65%. Silicon Motion Technology’s dividend payout ratio (DPR) is 47.60%.
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Silicon Motion Technology 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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