FORA Capital LLC Buys Shares of 2,954 Silicon Motion Technology Co. (NASDAQ:SIMO)

FORA Capital LLC bought a new stake in Silicon Motion Technology Co. (NASDAQ:SIMO) during the first quarter, Holdings Channel.com reports. The firm bought 2,954 shares of the semiconductor producer’s stock, valued at approximately $175,000.

A number of other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of Silicon Motion Technology by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 53,208 shares of the semiconductor producer’s stock worth $2,562,000 after purchasing an additional 5,856 shares during the period. Northern Trust Corp increased its holdings in Silicon Motion Technology by 1.0% during the 4th quarter. Northern Trust Corp now owns 231,127 shares of the semiconductor producer’s stock worth $11,130,000 after acquiring an additional 2,285 shares during the period. CWM Advisors LLC bought a new position in shares of Silicon Motion Technology in the 4th quarter worth $248,000. Cardinal Capital Management LLC CT increased its holdings in shares of Silicon Motion Technology by 20.8% in the 4th quarter. Cardinal Capital Management LLC CT now owns 2,428,722 shares of the semiconductor producer’s stock worth $116,943,000 after buying an additional 417,412 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Silicon Motion Technology by 28.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 704,483 shares of the semiconductor producer’s stock valued at $33,921,000 after purchasing an additional 155,670 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

SIMO has been the subject of a number of research reports. B. Riley upped their price objective on shares of Silicon Motion Technology from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, May 7th. Morgan Stanley reissued an “underweight” rating on shares of Silicon Motion Technology in a research report on Tuesday, May 25th. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $82.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. Finally, Roth Capital upped their price objective on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $70.00.

Shares of Silicon Motion Technology stock opened at $61.81 on Thursday. The stock has a 50-day simple moving average of $63.77. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11. Silicon Motion Technology Co. has a 1 year low of $35.13 and a 1 year high of $74.10.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Wednesday, May 5th. The semiconductor producer reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.27. The company had revenue of $182.40 million during the quarter, compared to analyst estimates of $180.00 million. Silicon Motion Technology had a net margin of 14.98% and a return on equity of 15.07%. Analysts predict that Silicon Motion Technology Co. will post 4.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 19th. Shareholders of record on Thursday, August 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 4th. This represents a $1.40 dividend on an annualized basis and a yield of 2.27%. Silicon Motion Technology’s dividend payout ratio is currently 60.96%.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It offers SSDs used in PCs and other devices, as well as eMMC and UFS mobile embedded storage used in smartphones and IOT devices. The company also provides enterprise-grade SSDs used in data centers; and small form-factor specialized SSDs 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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