272 Capital LP Has $6.16 Million Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

272 Capital LP raised its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 55.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,391 shares of the semiconductor producer’s stock after purchasing an additional 36,092 shares during the quarter. Silicon Motion Technology accounts for approximately 3.2% of 272 Capital LP’s investment portfolio, making the stock its 8th largest holding. 272 Capital LP owned approximately 0.30% of Silicon Motion Technology worth $6,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SIMO. Cerity Partners LLC purchased a new position in shares of Silicon Motion Technology during the third quarter valued at $1,826,000. Harbor Capital Advisors Inc. increased its stake in shares of Silicon Motion Technology by 95.7% during the third quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock valued at $7,793,000 after buying an additional 62,733 shares during the period. National Bank of Canada FI increased its stake in shares of Silicon Motion Technology by 6,186.7% during the second quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer’s stock valued at $3,766,000 after buying an additional 46,400 shares during the period. FMR LLC increased its stake in shares of Silicon Motion Technology by 27.7% during the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after buying an additional 485,862 shares during the period. Finally, Resolute Capital Asset Partners LLC increased its stake in shares of Silicon Motion Technology by 44.4% during the second quarter. Resolute Capital Asset Partners LLC now owns 65,000 shares of the semiconductor producer’s stock valued at $5,264,000 after buying an additional 20,000 shares during the period. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Trading Up 3.0 %

Shares of NASDAQ:SIMO opened at $57.95 on Friday. Silicon Motion Technology Co. has a 12-month low of $50.50 and a 12-month high of $85.87. The company has a market capitalization of $1.95 billion, a PE ratio of 21.31, a PEG ratio of 1.53 and a beta of 0.82. The business has a 50 day moving average of $55.61 and a two-hundred day moving average of $64.93.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. Equities research analysts predict that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s payout ratio is 75.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley cut their price target on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Roth Mkm cut their target price on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Craig Hallum dropped their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Susquehanna decreased their target price on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a report on Friday, November 1st. Finally, Needham & Company LLC decreased their target price on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

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.