FNY Investment Advisers LLC Buys 3,550 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

FNY Investment Advisers LLC boosted its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 65.1% in the fourth quarter, HoldingsChannel reports. The firm owned 9,000 shares of the semiconductor producer’s stock after buying an additional 3,550 shares during the period. FNY Investment Advisers LLC’s holdings in Silicon Motion Technology were worth $486,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its stake in Silicon Motion Technology by 29.9% in the second quarter. Commonwealth Equity Services LLC now owns 11,788 shares of the semiconductor producer’s stock valued at $955,000 after acquiring an additional 2,714 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Silicon Motion Technology during the second quarter worth $365,000. Envestnet Asset Management Inc. lifted its stake in shares of Silicon Motion Technology by 9.9% in the second quarter. Envestnet Asset Management Inc. now owns 55,312 shares of the semiconductor producer’s stock valued at $4,480,000 after buying an additional 4,963 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Silicon Motion Technology by 41.9% during the second quarter. Renaissance Technologies LLC now owns 113,879 shares of the semiconductor producer’s stock valued at $9,223,000 after buying an additional 33,600 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Silicon Motion Technology during the second quarter worth about $265,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Analysts Set New Price Targets

SIMO has been the topic of several recent research reports. Roth Mkm dropped their price target on shares of 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. Susquehanna dropped their target price on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd. Needham & Company LLC dropped their price objective on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Silicon Motion Technology has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $51.90 on Tuesday. The business’s fifty day moving average is $54.90 and its 200-day moving average is $60.77. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.61 and a beta of 0.80. Silicon Motion Technology Co. has a one year low of $50.50 and a one year high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The business had revenue of $212.40 million for the quarter, compared to analyst estimates of $209.49 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Research analysts expect that Silicon Motion Technology Co. will post 2.59 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, August 7th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 75.76%.

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.