Janney Montgomery Scott LLC grew its holdings in Silicon Motion Technology Corp. (NASDAQ:SIMO) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,254 shares of the semiconductor producer’s stock after purchasing an additional 3,097 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of Silicon Motion Technology worth $1,165,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of SIMO. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Motion Technology in the 3rd quarter worth $101,000. Advisors Preferred LLC boosted its stake in shares of Silicon Motion Technology by 451.0% in the 3rd quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock worth $128,000 after buying an additional 2,183 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Silicon Motion Technology in the 2nd quarter worth $135,000. Hikari Power Ltd purchased a new position in shares of Silicon Motion Technology in the 2nd quarter worth $204,000. Finally, Airain ltd purchased a new position in shares of Silicon Motion Technology in the 2nd quarter worth $213,000. 82.79% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on SIMO shares. B. Riley set a $69.00 price target on Silicon Motion Technology and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target on shares of Silicon Motion Technology in a research note on Friday, October 27th. Zacks Investment Research upgraded Silicon Motion Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Loop Capital raised their price target on Silicon Motion Technology from $51.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $57.85.
Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $127.24 million. During the same period in the previous year, the business earned $1.07 earnings per share. Silicon Motion Technology’s quarterly revenue was down 19.8% compared to the same quarter last year. analysts expect that Silicon Motion Technology Corp. will post 2.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Thursday, November 9th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.27%. This is an increase from Silicon Motion Technology’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, November 8th. Silicon Motion Technology’s payout ratio is presently 35.04%.
About Silicon Motion Technology
Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.
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