Mount Yale Investment Advisors LLC reduced its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 29.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,509 shares of the semiconductor producer’s stock after selling 1,896 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Silicon Motion Technology were worth $268,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cardinal Capital Management LLC CT grew its position in Silicon Motion Technology by 20.8% in the 4th quarter. Cardinal Capital Management LLC CT now owns 2,428,722 shares of the semiconductor producer’s stock worth $116,943,000 after purchasing an additional 417,412 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Silicon Motion Technology by 28.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 704,483 shares of the semiconductor producer’s stock valued at $33,921,000 after acquiring an additional 155,670 shares during the last quarter. Baillie Gifford & Co. purchased a new stake in shares of Silicon Motion Technology during the fourth quarter valued at approximately $27,997,000. M&G Investment Management Ltd. lifted its holdings in Silicon Motion Technology by 3.8% during the fourth quarter. M&G Investment Management Ltd. now owns 494,881 shares of the semiconductor producer’s stock worth $23,754,000 after acquiring an additional 18,151 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Silicon Motion Technology by 6.3% in the fourth quarter. Russell Investments Group Ltd. now owns 330,760 shares of the semiconductor producer’s stock worth $15,923,000 after purchasing an additional 19,720 shares during the last quarter. Institutional investors and hedge funds own 66.72% of the company’s stock.
Shares of NASDAQ:SIMO opened at $65.45 on Monday. The firm has a market capitalization of $2.30 billion, a PE ratio of 22.04, a P/E/G ratio of 2.08 and a beta of 1.06. The company has a 50-day moving average price of $66.12 and a two-hundred day moving average price of $53.76. Silicon Motion Technology Co. has a twelve month low of $35.13 and a twelve month high of $74.10.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 20th. Shareholders of record on Thursday, May 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 5th. This represents a $1.40 dividend on an annualized basis and a yield of 2.14%. Silicon Motion Technology’s payout ratio is 76.37%.
Several equities research analysts have recently issued reports on the company. B. Riley lifted their target price on Silicon Motion Technology from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Craig Hallum lifted their price objective on shares of Silicon Motion Technology from $55.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Roth Capital boosted their target price on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 8th. Finally, Needham & Company LLC raised their price target on shares of Silicon Motion Technology from $82.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 12th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $70.00.
Silicon Motion Technology Profile
Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers solid-state drive (SSDs) used in PCs and other devices, as well as embedded multimediacard (eMMC) and UFS mobile embedded storage used in smartphones.
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