Ramirez Asset Management Inc. Has $4.14 Million Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Ramirez Asset Management Inc. decreased its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,548 shares of the semiconductor producer’s stock after selling 3,239 shares during the quarter. Ramirez Asset Management Inc. owned approximately 0.23% of Silicon Motion Technology worth $4,137,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in shares of 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. GAMMA Investing LLC increased its holdings in Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after buying an additional 484 shares during the last quarter. Blue Trust Inc. raised its position in Silicon Motion Technology by 64.7% during the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after acquiring an additional 883 shares in the last quarter. Virtu Financial LLC acquired a new stake in Silicon Motion Technology in the fourth quarter valued at $208,000. Finally, Choreo LLC bought a new position in shares of Silicon Motion Technology in the 4th quarter valued at about $209,000. Institutional investors own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SIMO. StockNews.com cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of Silicon Motion Technology in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.63.

Silicon Motion Technology Price Performance

SIMO stock opened at $51.62 on Friday. Silicon Motion Technology Co. has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The business’s fifty day moving average price is $54.35 and its two-hundred day moving average price is $55.38. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.36 and a beta of 0.71.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. Research analysts expect that Silicon Motion Technology Co. will post 3.08 EPS for the current year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 74.35%.

Silicon Motion Technology declared that its board has approved a stock repurchase plan on Wednesday, February 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor producer to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.