Boston Partners Boosts Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Boston Partners raised its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 47.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 311,402 shares of the semiconductor producer’s stock after purchasing an additional 100,033 shares during the quarter. Boston Partners owned 0.92% of Silicon Motion Technology worth $16,831,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SIMO. Cerity Partners LLC purchased a new position in Silicon Motion Technology in the 3rd quarter valued at $1,826,000. JPMorgan Chase & Co. boosted its holdings in shares of Silicon Motion Technology by 21.8% in the third quarter. JPMorgan Chase & Co. now owns 200,016 shares of the semiconductor producer’s stock valued at $12,149,000 after acquiring an additional 35,741 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in shares of Silicon Motion Technology during the fourth quarter worth about $431,000. FMR LLC raised its holdings in Silicon Motion Technology by 27.7% during the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after purchasing an additional 485,862 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Silicon Motion Technology by 30.3% in the third quarter. Stifel Financial Corp now owns 12,175 shares of the semiconductor producer’s stock valued at $739,000 after purchasing an additional 2,833 shares during the period. Institutional investors and hedge funds own 78.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Silicon Motion Technology in a research report on Friday, February 7th. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a report on Monday, December 23rd. Finally, StockNews.com lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.63.

Silicon Motion Technology Stock Down 1.2 %

Silicon Motion Technology stock opened at $55.92 on Friday. The firm has a market capitalization of $1.88 billion, a PE ratio of 20.79, a P/E/G ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a 52 week low of $48.81 and a 52 week high of $85.87. The firm’s 50-day simple moving average is $54.06 and its 200 day simple moving average is $55.56.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. On average, research analysts expect that Silicon Motion Technology Co. will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology announced that its board has approved a share repurchase program on Wednesday, February 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were issued a $0.50 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.58%. Silicon Motion Technology’s dividend payout ratio (DPR) is 74.35%.

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.