Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Bought by Reinhart Partners LLC.

Reinhart Partners LLC. raised its holdings in Silicon Motion Technology Co. (NASDAQ:SIMOFree Report) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 736,371 shares of the semiconductor producer’s stock after purchasing an additional 35,623 shares during the quarter. Silicon Motion Technology accounts for approximately 2.3% of Reinhart Partners LLC.’s investment portfolio, making the stock its 16th biggest holding. Reinhart Partners LLC. owned 2.23% of Silicon Motion Technology worth $56,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. boosted its stake in shares of Silicon Motion Technology by 0.3% in the fourth quarter. Alpine Associates Management Inc. now owns 955,514 shares of the semiconductor producer’s stock worth $58,544,000 after buying an additional 3,300 shares during the last quarter. Hawk Ridge Capital Management LP grew its stake in shares of Silicon Motion Technology by 63.1% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 944,559 shares of the semiconductor producer’s stock worth $48,409,000 after purchasing an additional 365,461 shares during the period. Wellington Management Group LLP grew its stake in shares of Silicon Motion Technology by 1,250.9% during the 3rd quarter. Wellington Management Group LLP now owns 819,289 shares of the semiconductor producer’s stock worth $41,989,000 after purchasing an additional 758,640 shares during the period. Cooper Creek Partners Management LLC increased its holdings in shares of Silicon Motion Technology by 771.4% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 760,554 shares of the semiconductor producer’s stock valued at $38,978,000 after purchasing an additional 673,278 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Silicon Motion Technology in the 4th quarter valued at $44,073,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Performance

Shares of SIMO traded up $1.60 during trading hours on Tuesday, hitting $84.88. 388,548 shares of the stock were exchanged, compared to its average volume of 429,861. The stock’s 50-day moving average price is $77.40 and its two-hundred day moving average price is $70.85. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 48.23, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89. Silicon Motion Technology Co. has a 12-month low of $49.50 and a 12-month high of $95.33.

Silicon Motion Technology (NASDAQ:SIMOGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Silicon Motion Technology had a net margin of 8.34% and a return on equity of 7.78%. The firm had revenue of $189.31 million for the quarter, compared to analyst estimates of $180.23 million. On average, research analysts expect that Silicon Motion Technology Co. will post 2.77 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, May 8th. This represents a $2.00 dividend on an annualized basis and a yield of 2.36%. Silicon Motion Technology’s payout ratio is 113.07%.

Analyst Upgrades and Downgrades

SIMO has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Silicon Motion Technology in a research report on Monday, May 6th. Susquehanna upped their price target on Silicon Motion Technology from $100.00 to $110.00 and gave the stock a “positive” rating in a report on Monday, May 6th. Wedbush reiterated an “outperform” rating and set a $85.00 price target on shares of Silicon Motion Technology in a research report on Friday, May 3rd. StockNews.com upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Craig Hallum increased their target price on Silicon Motion Technology from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Silicon Motion Technology currently has an average rating of “Buy” and a consensus target price of $91.13.

Read Our Latest Analysis on SIMO

About Silicon Motion Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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