Boston Partners bought a new position in shares of Silicon Motion Technology, Inc. (NASDAQ:SIMO – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund bought 8,045 shares of the semiconductor maker's stock, valued at about $493,000.
A number of other hedge funds have 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 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 60,909 shares of the semiconductor maker's stock valued at $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, Inc. now owns 71,807 shares of the semiconductor maker'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 approximately $837,000. Canada Pension Plan Investment Board acquired a new position in shares of Silicon Motion Technology during the 3rd quarter valued at approximately $636,000. Finally, Invesco Ltd. purchased a new stake in shares of Silicon Motion Technology during the 3rd quarter valued at approximately $32,024,000. 78.02% of the stock is currently held by institutional investors and hedge funds.
Silicon Motion Technology trades rose 0.1%.
SIMO stock opened Friday at $77.39. The company's 50 day simple moving average is $75.79 and its 200 day simple moving average is $67.23. The company has a market capitalization of $2.61 billion, a P/E ratio of 43.97x, a price-to-earnings ratio of 3.99x, and a beta of 0.87x. Silicon Motion Technology's stock has hit a 12-month low of $49.50 and a 12-month high of $95.33.
Notice regarding dividends of Silicon Motion Technology
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will receive a dividend of $0.50 per share. This equates to an annual dividend of $2.00 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 rating changes
A number of research analysts have recently published reports on this stock. B. Riley increased their target price 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 target price on Silicon Motion Technology from his $80.00 to his $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 increased their price target for the stock from $59.00 to $88.00 in a research note on Monday, May 6th. Susquehanna increased their price objective on Silicon Motion Technology from their $100.00 to their $110.00 and gave the company a “positive” rating in a report on Monday, May 6th. Finally, JPMorgan Chase increased their target price 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. According to MarketBeat data, 9 equity research analysts rate the stock as a “buy,” giving the company a current consensus rating of “buy” and an average price target of $91.13.
Check out the 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) used in PCs and other client devices. Enterprise grade he SSD used in data centers. eMMC and UFS mobile embedded storage for use with smartphones and IoT devices. Flash memory cards and flash drives for use with expandable storage. There are also specialized SSDs used in industrial, commercial, and automotive applications.
References
Curious if other hedge funds own SIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Silicon Motion Technology Co. (NASDAQ:SIMO – Free Report).
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