Clearline Capital LP Acquires 44,473 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Clearline Capital LP boosted its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 30.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,842 shares of the semiconductor producer’s stock after purchasing an additional 44,473 shares during the period. Clearline Capital LP owned 0.56% of Silicon Motion Technology worth $11,470,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC lifted its position 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 buying an additional 197 shares in the last quarter. Inspire Advisors LLC grew its stake 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 valued at $1,059,000 after purchasing an additional 249 shares during the last quarter. Advisors Asset Management Inc. raised its position in Silicon Motion Technology by 129.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after purchasing an additional 251 shares during the last quarter. Sei Investments Co. lifted its holdings in Silicon Motion Technology by 0.5% during the 2nd quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock worth $4,559,000 after buying an additional 257 shares in the last quarter. Finally, Naples Global Advisors LLC increased its stake in shares of Silicon Motion Technology by 3.1% in the 2nd quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock valued at $1,410,000 after buying an additional 525 shares during the period. Institutional investors own 78.02% of the company’s stock.

Analyst Ratings Changes

SIMO has been the topic of several recent research reports. Roth Mkm decreased their price target on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Bank of America downgraded shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $90.00 to $60.00 in a research note on Friday, August 16th. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. B. Riley dropped their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Craig Hallum reduced their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Trading Up 1.2 %

SIMO stock opened at $53.07 on Monday. Silicon Motion Technology Co. has a 1-year low of $50.50 and a 1-year high of $85.87. The business’s 50-day moving average price is $56.13 and its two-hundred day moving average price is $66.14. The firm has a market cap of $1.79 billion, a PE ratio of 20.10, a P/E/G ratio of 1.44 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $209.49 million. During the same period in the prior year, the business earned $0.32 EPS. Silicon Motion Technology’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, analysts forecast that Silicon Motion Technology Co. will post 2.59 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s payout ratio is presently 75.38%.

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.