Reinhart Partners LLC. Has $61.39 Million Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Reinhart Partners LLC. raised its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,135,738 shares of the semiconductor producer’s stock after purchasing an additional 55,363 shares during the quarter. Silicon Motion Technology makes up approximately 2.3% of Reinhart Partners LLC.’s investment portfolio, making the stock its 17th largest holding. Reinhart Partners LLC. owned approximately 3.37% of Silicon Motion Technology worth $61,387,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after buying an additional 484 shares during the period. JPMorgan Chase & Co. grew its position in shares of Silicon Motion Technology by 21.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 200,016 shares of the semiconductor producer’s stock worth $12,149,000 after buying an additional 35,741 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Silicon Motion Technology by 21.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock worth $67,051,000 after buying an additional 196,609 shares during the period. 272 Capital LP grew its position in shares of Silicon Motion Technology by 55.3% during the 3rd quarter. 272 Capital LP now owns 101,391 shares of the semiconductor producer’s stock worth $6,158,000 after buying an additional 36,092 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Silicon Motion Technology during the 3rd quarter worth approximately $13,211,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

SIMO has been the topic of a number of recent research reports. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Needham & Company LLC dropped their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Susquehanna dropped their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. Finally, Craig Hallum dropped their price objective 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. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Silicon Motion Technology Trading Down 1.3 %

Shares of SIMO traded down $0.69 during trading hours on Monday, reaching $52.27. 89,422 shares of the company’s stock traded hands, compared to its average volume of 180,906. The stock has a market cap of $1.76 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. The firm’s 50 day simple moving average is $54.91 and its 200-day simple moving average is $60.97. Silicon Motion Technology Co. has a 12 month low of $50.50 and a 12 month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The firm 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 company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. As a group, analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.50 dividend. The ex-dividend date is Thursday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.83%. Silicon Motion Technology’s payout ratio is 75.76%.

About Silicon Motion Technology

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.