Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 95.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,299 shares of the semiconductor producer’s stock after acquiring an additional 62,733 shares during the period. Harbor Capital Advisors Inc. owned 0.38% of Silicon Motion Technology worth $7,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC lifted its position in Silicon Motion Technology by 0.6% in the third quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer’s stock worth $2,060,000 after purchasing an additional 197 shares during the period. Inspire Advisors LLC boosted its stake in Silicon Motion Technology by 1.9% during the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock valued at $1,059,000 after buying an additional 249 shares in the last quarter. Sei Investments Co. grew its holdings in Silicon Motion Technology by 0.5% during the second quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock worth $4,559,000 after acquiring an additional 257 shares during the period. Naples Global Advisors LLC raised its position in Silicon Motion Technology by 3.1% in the second quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock worth $1,410,000 after acquiring an additional 525 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Silicon Motion Technology by 3,971.4% in the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock valued at $44,000 after acquiring an additional 556 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Trading Down 1.9 %

Shares of Silicon Motion Technology stock opened at $52.78 on Friday. Silicon Motion Technology Co. has a 1 year low of $52.15 and a 1 year high of $85.87. The stock has a 50-day moving average price of $58.37 and a 200 day moving average price of $69.17. The company has a market cap of $1.78 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.85 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, topping 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 11.72%. The business had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that Silicon Motion Technology Co. will post 2.86 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, October 2nd. Needham & Company LLC dropped their price target on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Roth Mkm cut their target price on 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. Finally, Bank of America lowered Silicon Motion Technology from a “buy” rating to an “underperform” rating and decreased their price target for the company from $90.00 to $60.00 in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.