HBK Investments L P Decreases Stake in Silicon Motion Technology Co. (NASDAQ:SIMO)

HBK Investments L P lessened its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMOFree Report) by 41.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 766,600 shares of the semiconductor producer’s stock after selling 533,400 shares during the period. Silicon Motion Technology makes up about 0.2% of HBK Investments L P’s holdings, making the stock its 5th biggest position. HBK Investments L P owned 2.32% of Silicon Motion Technology worth $46,970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Silicon Motion Technology by 1,250.9% in the 3rd quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer’s stock worth $41,989,000 after buying an additional 758,640 shares during the last quarter. Kodai Capital Management LP bought a new position in shares of Silicon Motion Technology in the 4th quarter worth $44,073,000. Cooper Creek Partners Management LLC increased its holdings in shares of Silicon Motion Technology by 771.4% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer’s stock worth $38,978,000 after buying an additional 673,278 shares during the last quarter. Invesco Ltd. bought a new position in shares of Silicon Motion Technology in the 3rd quarter worth $32,024,000. Finally, Hudson Bay Capital Management LP increased its holdings in shares of Silicon Motion Technology by 1,811.3% in the 3rd quarter. Hudson Bay Capital Management LP now owns 503,834 shares of the semiconductor producer’s stock worth $25,821,000 after buying an additional 477,473 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 0.7 %

Shares of SIMO stock traded up $0.57 during mid-day trading on Monday, reaching $83.28. The stock had a trading volume of 624,287 shares, compared to its average volume of 430,218. The stock’s 50-day moving average price is $77.30 and its two-hundred day moving average price is $70.50. Silicon Motion Technology Co. has a 52-week low of $49.50 and a 52-week high of $95.33. The firm has a market capitalization of $2.80 billion, a PE ratio of 46.99, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89.

Silicon Motion Technology (NASDAQ:SIMOGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.78%. The firm had revenue of $189.31 million for the quarter, compared to analysts’ expectations of $180.23 million. On average, equities research analysts forecast that Silicon Motion Technology Co. will post 2.77 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is currently 113.07%.

Analyst Ratings Changes

A number of brokerages have recently commented on SIMO. Susquehanna increased their price target on shares of Silicon Motion Technology from $100.00 to $110.00 and gave the stock a “positive” rating in a report on Monday, May 6th. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of Silicon Motion Technology in a report on Friday, May 3rd. B. Riley increased their target price on shares of Silicon Motion Technology from $101.00 to $105.00 and gave the company a “buy” rating in a report on Monday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Silicon Motion Technology in a report on Monday, May 6th. Finally, Morgan Stanley raised shares of Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $59.00 to $88.00 in a report on Monday, May 6th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $91.13.

Check Out Our Latest Stock Analysis on SIMO

Silicon Motion Technology Company Profile

(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.

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

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