Silicon Motion Technology Co. (NASDAQ:SIMO) Stake Decreased by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 0.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,333,441 shares of the semiconductor producer’s stock after selling 3,007 shares during the quarter. Acadian Asset Management LLC’s holdings in Silicon Motion Technology were worth $107,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SIMO. Parallel Advisors LLC grew its stake in shares of Silicon Motion Technology by 154.9% in the fourth quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after purchasing an additional 333 shares in the last quarter. Blue Trust Inc. grew its position in Silicon Motion Technology by 3,971.4% in the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 556 shares in the last quarter. Assetmark Inc. increased its stake in Silicon Motion Technology by 34.5% during the 4th quarter. Assetmark Inc. now owns 1,332 shares of the semiconductor producer’s stock valued at $82,000 after buying an additional 342 shares during the period. LRI Investments LLC bought a new stake in shares of Silicon Motion Technology during the 1st quarter worth about $150,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of Silicon Motion Technology in the 4th quarter worth approximately $123,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Down 2.7 %

NASDAQ:SIMO opened at $56.92 on Friday. The stock has a fifty day simple moving average of $68.85 and a 200 day simple moving average of $73.86. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 0.93 and a beta of 0.84. Silicon Motion Technology Co. has a 1-year low of $49.50 and a 1-year high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Silicon Motion Technology had a net margin of 10.14% and a return on equity of 10.31%. The business had revenue of $210.67 million for the quarter, compared to the consensus estimate of $206.75 million. During the same period last year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. Equities analysts predict that Silicon Motion Technology Co. will post 2.86 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, August 8th. Silicon Motion Technology’s dividend payout ratio is currently 113.07%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SIMO shares. Needham & Company LLC raised their price objective on shares of Silicon Motion Technology from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Bank of America downgraded Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $90.00 to $60.00 in a research note on Friday, August 16th. StockNews.com cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Friday. Finally, B. Riley dropped their price target on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.56.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.