Public Employees Retirement System of Ohio Makes New Investment in Silicon Motion Technology Co. (NASDAQ:SIMO)

Public Employees Retirement System of Ohio acquired a new stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 97,206 shares of the semiconductor producer’s stock, valued at approximately $5,904,000.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake 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 valued at $2,060,000 after buying an additional 197 shares during the last quarter. Inspire Advisors LLC raised its position in shares of Silicon Motion Technology by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock valued at $1,059,000 after purchasing an additional 249 shares during the last quarter. Advisors Asset Management Inc. grew its position in Silicon Motion Technology by 129.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock worth $27,000 after purchasing an additional 251 shares during the last quarter. Sei Investments Co. increased its stake in Silicon Motion Technology by 0.5% during the 2nd quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock valued at $4,559,000 after purchasing an additional 257 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Silicon Motion Technology by 3,971.4% in the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 556 shares during the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

SIMO stock opened at $59.32 on Friday. The firm’s fifty day moving average is $55.61 and its 200 day moving average is $64.93. The firm has a market cap of $2.00 billion, a PE ratio of 22.47, a P/E/G ratio of 1.53 and a beta of 0.82. 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 released its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $209.49 million. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. Silicon Motion Technology’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. Research analysts predict that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $2.00 dividend on an annualized basis and a yield of 3.37%. Silicon Motion Technology’s dividend payout ratio is currently 75.38%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SIMO shares. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Wednesday, October 2nd. Susquehanna cut their price objective 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. StockNews.com downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America downgraded shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and cut their price target for the stock from $90.00 to $60.00 in a report on Friday, August 16th. Finally, Roth Mkm decreased their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

About Silicon Motion Technology

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.