Erste Asset Management GmbH Makes New Investment in Silicon Motion Technology Co. (NASDAQ:SIMO)

Erste Asset Management GmbH purchased a new position in Silicon Motion Technology Co. (NASDAQ:SIMO) in the 3rd quarter, HoldingsChannel reports. The fund purchased 664,000 shares of the semiconductor producer’s stock, valued at approximately $40,331,000.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC increased its holdings in Silicon Motion Technology by 0.6% during the 3rd quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer’s stock worth $2,060,000 after purchasing an additional 197 shares during the period. Inspire Advisors LLC grew its position in shares of Silicon Motion Technology by 1.9% during the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock worth $1,059,000 after buying an additional 249 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after buying an additional 251 shares during the period. Sei Investments Co. raised its holdings in Silicon Motion Technology by 0.5% in the second quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock valued at $4,559,000 after acquiring an additional 257 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its stake in Silicon Motion Technology by 3.1% in the second quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock worth $1,410,000 after acquiring an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Up 1.2 %

Shares of NASDAQ SIMO opened at $53.07 on Friday. The business has a 50-day moving average price of $56.13 and a 200 day moving average price of $66.21. The stock has a market cap of $1.79 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.44 and a beta of 0.84. Silicon Motion Technology Co. has a 52-week low of $50.50 and a 52-week high of $85.87.

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

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.77%. Silicon Motion Technology’s dividend payout ratio (DPR) is 75.38%.

Wall Street Analyst Weigh In

SIMO has been the topic of a number of recent analyst reports. Needham & Company LLC dropped their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Craig Hallum dropped their target price on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Susquehanna decreased their price target 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. Bank of America cut Silicon Motion Technology from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $90.00 to $60.00 in a research report on Friday, August 16th. Finally, B. Riley cut their target price on 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.com, the company currently has an average 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.