Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC grew its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 95.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,090 shares of the semiconductor producer’s stock after purchasing an additional 7,840 shares during the period. Orion Portfolio Solutions LLC’s holdings in Silicon Motion Technology were worth $870,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SIMO. Geode Capital Management LLC increased its stake in Silicon Motion Technology by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer’s stock valued at $2,183,000 after purchasing an additional 253 shares in the last quarter. Rhumbline Advisers grew its holdings in Silicon Motion Technology by 8.7% in the fourth quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer’s stock valued at $306,000 after purchasing an additional 453 shares during the last quarter. Inspire Advisors LLC raised its stake in shares of Silicon Motion Technology by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer’s stock worth $704,000 after buying an additional 467 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after buying an additional 484 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Silicon Motion Technology by 0.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 85,265 shares of the semiconductor producer’s stock valued at $4,609,000 after acquiring an additional 752 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SIMO shares. StockNews.com cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Silicon Motion Technology in a research report on Friday, February 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Motion Technology currently has an average rating of “Moderate Buy” and an average price target of $80.63.

Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $41.12 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a 12 month low of $39.50 and a 12 month high of $85.87. The company has a 50-day moving average of $53.79 and a 200-day moving average of $54.97.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. As a group, equities research analysts anticipate that Silicon Motion Technology Co. will post 3.08 EPS for the current year.

Silicon Motion Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 annualized dividend and a yield of 4.86%. Silicon Motion Technology’s dividend payout ratio is presently 74.35%.

Silicon Motion Technology announced that its Board of Directors has initiated a share buyback program on Wednesday, February 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.