FNY Investment Advisers LLC Purchases 3,550 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

FNY Investment Advisers LLC grew its position in Silicon Motion Technology Co. (NASDAQ:SIMO) by 65.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,000 shares of the semiconductor producer’s stock after purchasing an additional 3,550 shares during the period. FNY Investment Advisers LLC’s holdings in Silicon Motion Technology were worth $486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its holdings in Silicon Motion Technology by 27.7% during the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after buying an additional 485,862 shares during the period. Reinhart Partners LLC. raised its position in Silicon Motion Technology by 5.1% during the fourth quarter. Reinhart Partners LLC. now owns 1,135,738 shares of the semiconductor producer’s stock worth $61,387,000 after acquiring an additional 55,363 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Silicon Motion Technology by 21.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock valued at $67,051,000 after acquiring an additional 196,609 shares during the period. Millennium Management LLC increased its stake in shares of Silicon Motion Technology by 15.3% during the 2nd quarter. Millennium Management LLC now owns 791,823 shares of the semiconductor producer’s stock worth $64,130,000 after purchasing an additional 105,084 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Silicon Motion Technology in the 3rd quarter valued at about $40,331,000. 78.02% of the stock is owned by institutional investors.

Silicon Motion Technology Stock Performance

Shares of NASDAQ SIMO opened at $51.90 on Tuesday. The stock has a market cap of $1.75 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. Silicon Motion Technology Co. has a 52-week low of $50.50 and a 52-week high of $85.87. The firm has a 50 day moving average price of $54.90 and a two-hundred day moving average price of $60.77.

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

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, August 7th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 75.76%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Roth Mkm lowered their price target on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Needham & Company LLC dropped their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Morgan Stanley cut their price target on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Craig Hallum reduced their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology 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.