Public Employees Retirement System of Ohio Makes New $5.90 Million Investment in Silicon Motion Technology Co. (NASDAQ:SIMO)

Public Employees Retirement System of Ohio acquired a new stake in Silicon Motion Technology Co. (NASDAQ:SIMO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 97,206 shares of the semiconductor producer’s stock, valued at approximately $5,904,000. Public Employees Retirement System of Ohio owned about 0.29% of Silicon Motion Technology at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its position in Silicon Motion Technology by 129.4% in the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after buying an additional 251 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Silicon Motion Technology by 3,971.4% in the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after acquiring an additional 556 shares during the period. Headlands Technologies LLC bought a new stake in shares of Silicon Motion Technology in the 2nd quarter worth about $139,000. XTX Topco Ltd purchased a new position in shares of Silicon Motion Technology during the 2nd quarter worth about $220,000. Finally, Van ECK Associates Corp bought a new position in Silicon Motion Technology during the 3rd quarter valued at about $151,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Craig Hallum dropped their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Needham & Company LLC reduced their target price on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Roth Mkm lowered their target price on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Finally, Morgan Stanley reduced their price target on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Silicon Motion Technology Stock Performance

NASDAQ SIMO opened at $59.32 on Friday. The company’s 50-day simple moving average is $55.61 and its two-hundred day simple moving average is $64.93. Silicon Motion Technology Co. has a one year low of $50.50 and a one year high of $85.87. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. Silicon Motion Technology’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Equities analysts expect that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $2.00 annualized dividend and a yield of 3.37%. Silicon Motion Technology’s dividend payout ratio (DPR) 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.