Renaissance Group LLC Decreases Position in Silicon Motion Technology Corporation $SIMO

Renaissance Group LLC reduced its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 12.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,161 shares of the semiconductor producer’s stock after selling 4,114 shares during the period. Renaissance Group LLC’s holdings in Silicon Motion Technology were worth $2,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in Silicon Motion Technology by 77.6% in the first quarter. Envestnet Asset Management Inc. now owns 93,821 shares of the semiconductor producer’s stock valued at $4,744,000 after acquiring an additional 40,981 shares in the last quarter. 1492 Capital Management LLC boosted its stake in shares of Silicon Motion Technology by 2.5% in the first quarter. 1492 Capital Management LLC now owns 31,391 shares of the semiconductor producer’s stock valued at $1,587,000 after purchasing an additional 769 shares during the period. Heartland Advisors Inc. grew its holdings in Silicon Motion Technology by 0.8% during the 1st quarter. Heartland Advisors Inc. now owns 450,755 shares of the semiconductor producer’s stock valued at $22,790,000 after purchasing an additional 3,617 shares in the last quarter. Natixis Advisors LLC purchased a new stake in Silicon Motion Technology during the 1st quarter worth $561,000. Finally, Alpine Associates Management Inc. increased its stake in Silicon Motion Technology by 1.1% during the 1st quarter. Alpine Associates Management Inc. now owns 334,305 shares of the semiconductor producer’s stock worth $16,902,000 after buying an additional 3,600 shares during the period. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Trading Up 0.3%

SIMO stock opened at $84.80 on Thursday. The stock’s 50 day simple moving average is $93.33 and its 200 day simple moving average is $78.87. Silicon Motion Technology Corporation has a 12-month low of $37.21 and a 12-month high of $106.60. The firm has a market cap of $2.88 billion, a P/E ratio of 35.78, a P/E/G ratio of 1.75 and a beta of 1.03.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Thursday, October 30th. The semiconductor producer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.19. The firm had revenue of $242.00 million during the quarter, compared to analyst estimates of $222.60 million. Silicon Motion Technology had a net margin of 10.36% and a return on equity of 10.14%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Silicon Motion Technology has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, August 6th. This represents a $2.00 annualized dividend and a yield of 2.4%. Silicon Motion Technology’s dividend payout ratio is 68.38%.

Wall Street Analysts Forecast Growth

SIMO has been the topic of several recent analyst reports. Wedbush set a $120.00 price target on Silicon Motion Technology in a research note on Monday, November 3rd. Craig Hallum increased their target price on Silicon Motion Technology from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Needham & Company LLC reissued a “buy” rating and set a $110.00 price target on shares of Silicon Motion Technology in a research report on Monday, November 3rd. Wall Street Zen raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Susquehanna increased their price objective on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Motion Technology presently has an average rating of “Buy” and an average target price of $111.25.

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.