Boston Partners bought a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO – Free 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
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
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