Morse Asset Management Inc Buys 3,625 Shares of Silicon Motion Technology Corp. (SIMO)

Morse Asset Management Inc increased its stake in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 18.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,230 shares of the semiconductor producer’s stock after acquiring an additional 3,625 shares during the quarter. Morse Asset Management Inc’s holdings in Silicon Motion Technology were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in Silicon Motion Technology by 4.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,530,366 shares of the semiconductor producer’s stock worth $135,881,000 after buying an additional 105,161 shares during the period. Janus Henderson Group PLC lifted its holdings in Silicon Motion Technology by 3.2% in the 2nd quarter. Janus Henderson Group PLC now owns 718,473 shares of the semiconductor producer’s stock worth $38,011,000 after buying an additional 22,141 shares during the period. Investec Asset Management LTD lifted its holdings in Silicon Motion Technology by 0.6% in the 2nd quarter. Investec Asset Management LTD now owns 445,556 shares of the semiconductor producer’s stock worth $23,565,000 after buying an additional 2,781 shares during the period. Systematic Financial Management LP lifted its holdings in Silicon Motion Technology by 20.5% in the 2nd quarter. Systematic Financial Management LP now owns 385,936 shares of the semiconductor producer’s stock worth $20,412,000 after buying an additional 65,721 shares during the period. Finally, Peregrine Capital Management LLC lifted its holdings in Silicon Motion Technology by 1.7% in the 3rd quarter. Peregrine Capital Management LLC now owns 374,848 shares of the semiconductor producer’s stock worth $20,129,000 after buying an additional 6,170 shares during the period. Institutional investors and hedge funds own 74.95% of the company’s stock.

Several equities research analysts have weighed in on the company. ValuEngine upgraded Silicon Motion Technology from a “sell” rating to a “hold” rating in a report on Friday. B. Riley dropped their price objective on Silicon Motion Technology from $68.75 to $57.00 and set a “buy” rating for the company in a report on Thursday. Lake Street Capital set a $46.00 price objective on Silicon Motion Technology and gave the stock a “buy” rating in a report on Thursday. Craig Hallum dropped their price objective on Silicon Motion Technology from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Cowen dropped their price objective on Silicon Motion Technology from $67.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Silicon Motion Technology presently has a consensus rating of “Buy” and a consensus price target of $56.31.

SIMO opened at $40.72 on Friday. The company has a market capitalization of $1.36 billion, a PE ratio of 14.19 and a beta of 0.95. Silicon Motion Technology Corp. has a 52 week low of $35.25 and a 52 week high of $61.85.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, October 30th. The semiconductor producer reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. The company had revenue of $138.60 million during the quarter, compared to analysts’ expectations of $137.36 million. Silicon Motion Technology had a return on equity of 18.45% and a net margin of 17.10%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. As a group, analysts expect that Silicon Motion Technology Corp. will post 3.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, November 8th. Silicon Motion Technology’s payout ratio is presently 56.94%.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets semiconductor solutions for the mobile and enterprise storage, and mobile communications markets worldwide. It offers embedded storage and expandable storage products, including NAND flash controllers, such as embedded multimediacard (eMMC), universal flash storage, client solid-state drive (SSD), secure digital card, flash memory card controller, and universal serial bus flash drive controller products.

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

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