Natixis Advisors LLC Takes Position in Silicon Motion Technology Corporation (NASDAQ:SIMO)

Natixis Advisors LLC bought a new stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) during the 1st quarter, HoldingsChannel reports. The fund bought 11,100 shares of the semiconductor producer’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Capital Management LLC acquired a new stake in shares of Silicon Motion Technology in the fourth quarter valued at about $15,006,000. Reinhart Partners LLC. lifted its stake in shares of Silicon Motion Technology by 20.1% in the first quarter. Reinhart Partners LLC. now owns 1,364,291 shares of the semiconductor producer’s stock valued at $68,979,000 after purchasing an additional 228,553 shares during the period. Wellington Management Group LLP lifted its stake in shares of Silicon Motion Technology by 40.1% in the fourth quarter. Wellington Management Group LLP now owns 797,192 shares of the semiconductor producer’s stock valued at $43,088,000 after purchasing an additional 228,333 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Silicon Motion Technology by 20.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,324,930 shares of the semiconductor producer’s stock valued at $71,612,000 after purchasing an additional 221,017 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Silicon Motion Technology by 22.8% in the fourth quarter. Invesco Ltd. now owns 1,038,779 shares of the semiconductor producer’s stock valued at $56,146,000 after purchasing an additional 192,646 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $75.04 on Tuesday. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $85.11. The firm has a 50 day moving average price of $72.41 and a 200 day moving average price of $59.51. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 3.81 and a beta of 0.92.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Wednesday, July 30th. The semiconductor producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The firm had revenue of $198.68 million during the quarter, compared to the consensus estimate of $180.40 million. During the same period in the previous year, the firm earned $0.96 earnings per share. Silicon Motion Technology’s revenue was down 5.7% compared to the same quarter last year. Sell-side analysts predict that Silicon Motion Technology Corporation will post 3.08 EPS for the current year.

Silicon Motion Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, August 7th. Silicon Motion Technology’s payout ratio is currently 83.97%.

Analysts Set New Price Targets

SIMO has been the subject of several recent analyst reports. Citigroup upgraded shares of Silicon Motion Technology to a “buy” rating in a research note on Wednesday, June 18th. B. Riley reiterated a “buy” rating and issued a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Susquehanna lifted their target price on shares of Silicon Motion Technology from $90.00 to $95.00 and gave the stock a “positive” rating in a research report on Friday, August 1st. Roth Capital lifted their target price on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Finally, Craig Hallum lifted their target price on shares of Silicon Motion Technology from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.78.

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.