Silicon Motion Technology Corp. (NASDAQ:SIMO) Shares Bought by ETRADE Capital Management LLC

ETRADE Capital Management LLC boosted its holdings in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,605 shares of the semiconductor producer’s stock after purchasing an additional 2,382 shares during the period. ETRADE Capital Management LLC owned about 0.06% of Silicon Motion Technology worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in Silicon Motion Technology by 26.4% during the first quarter. PNC Financial Services Group Inc. now owns 15,177 shares of the semiconductor producer’s stock valued at $557,000 after purchasing an additional 3,171 shares during the period. Aigen Investment Management LP acquired a new position in Silicon Motion Technology during the first quarter valued at $177,000. Private Capital Group LLC lifted its position in Silicon Motion Technology by 19.6% during the first quarter. Private Capital Group LLC now owns 2,370 shares of the semiconductor producer’s stock valued at $87,000 after purchasing an additional 389 shares during the period. First Trust Advisors LP raised its position in shares of Silicon Motion Technology by 2.1% in the first quarter. First Trust Advisors LP now owns 16,715 shares of the semiconductor producer’s stock worth $613,000 after acquiring an additional 346 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Silicon Motion Technology by 22.9% in the first quarter. Russell Investments Group Ltd. now owns 253,783 shares of the semiconductor producer’s stock worth $9,303,000 after acquiring an additional 47,318 shares during the period. Institutional investors own 67.38% of the company’s stock.

A number of research analysts have weighed in on the stock. BidaskClub downgraded shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Susquehanna Bancshares reiterated a “hold” rating and issued a $51.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. TheStreet upgraded shares of Silicon Motion Technology from a “c” rating to a “b” rating in a research report on Monday, February 10th. Bank of America upgraded shares of Silicon Motion Technology from an “underperform” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Thursday, March 26th. Finally, Summit Insights downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $52.58.

SIMO opened at $48.26 on Friday. Silicon Motion Technology Corp. has a twelve month low of $26.72 and a twelve month high of $53.04. The company has a 50-day moving average price of $43.08 and a 200 day moving average price of $44.02. The company has a market cap of $1.76 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor producer reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Silicon Motion Technology had a net margin of 16.56% and a return on equity of 14.75%. The firm had revenue of $132.77 million during the quarter, compared to the consensus estimate of $130.93 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 40.2% on a year-over-year basis. As a group, sell-side analysts expect that Silicon Motion Technology Corp. will post 2.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 2.90%. Silicon Motion Technology’s dividend payout ratio is presently 76.37%.

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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