Calamos Advisors LLC Buys Shares of 68,589 Silicon Motion Technology Co. (NASDAQ:SIMO)

Calamos Advisors LLC bought a new position in Silicon Motion Technology Co. (NASDAQ:SIMOFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,589 shares of the semiconductor producer’s stock, valued at approximately $3,707,000.

Other hedge funds also recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new position in Silicon Motion Technology during the 3rd quarter worth approximately $40,331,000. FMR LLC increased its holdings in shares of Silicon Motion Technology by 27.7% during the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after buying an additional 485,862 shares in the last quarter. Reinhart Partners LLC. lifted its stake in shares of Silicon Motion Technology by 43.3% in the 3rd quarter. Reinhart Partners LLC. now owns 1,080,375 shares of the semiconductor producer’s stock valued at $65,622,000 after acquiring an additional 326,358 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Silicon Motion Technology during the 3rd quarter valued at $13,211,000. Finally, Lord Abbett & CO. LLC grew its position in Silicon Motion Technology by 21.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock worth $67,051,000 after acquiring an additional 196,609 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SIMO shares. StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Wednesday. Susquehanna cut their target price on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Craig Hallum reduced their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Roth Mkm decreased their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.67.

Read Our Latest Stock Report on Silicon Motion Technology

Silicon Motion Technology Trading Up 4.9 %

Shares of SIMO opened at $54.47 on Wednesday. The firm’s fifty day simple moving average is $54.48 and its two-hundred day simple moving average is $57.65. Silicon Motion Technology Co. has a 12 month low of $48.81 and a 12 month high of $85.87. The stock has a market capitalization of $1.83 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.79.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.00 annualized dividend and a yield of 3.67%. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

Silicon Motion Technology Company Profile

(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.

Further Reading

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

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