Saturday, June 15, 2024

Boston Partners Acquires New Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Must read


Boston Partners bought a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMOFree Report) during the 4th quarter, HoldingsChannel.com reports. The fund bought 8,045 shares of the semiconductor producer’s stock, valued at approximately $493,000.

A number of other hedge funds also recently added to or reduced their stakes in SIMO. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Silicon Motion Technology by 127.3% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 60,909 shares of the semiconductor producer’s stock worth $3,122,000 after acquiring an additional 34,111 shares during the period. Russell Investments Group Ltd. raised its position in Silicon Motion Technology by 3,282.3% in the 4th quarter. Russell Investments Group Ltd. now owns 71,807 shares of the semiconductor producer’s stock valued at $4,386,000 after purchasing an additional 69,684 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Silicon Motion Technology in the 3rd quarter valued at about $837,000. Canada Pension Plan Investment Board acquired a new position in shares of Silicon Motion Technology during the third quarter worth about $636,000. Finally, Invesco Ltd. purchased a new stake in shares of Silicon Motion Technology during the third quarter worth approximately $32,024,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Trading Up 0.1 %

Shares of SIMO opened at $77.39 on Friday. The company’s 50 day simple moving average is $75.79 and its 200-day simple moving average is $67.23. The firm has a market cap of $2.61 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 3.99 and a beta of 0.87. Silicon Motion Technology Co. has a 12-month low of $49.50 and a 12-month high of $95.33.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.58%. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology’s payout ratio is currently 113.07%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. B. Riley lifted their price target on shares of Silicon Motion Technology from $101.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Craig Hallum increased their price objective on Silicon Motion Technology from $80.00 to $96.00 and gave the company a “buy” rating in a report on Monday, May 6th. Morgan Stanley upgraded Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $59.00 to $88.00 in a research note on Monday, May 6th. Susquehanna upped their price target on Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $91.13.

Check Out Our Latest Stock Analysis on SIMO

About Silicon Motion Technology

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Motion Technology Co. (NASDAQ:SIMOFree Report).

Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)



Receive News & Ratings for Silicon Motion Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Silicon Motion Technology and related companies with MarketBeat.com’s FREE daily email newsletter.

Latest article