Robeco Institutional Asset Management B.V. Trims Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Robeco Institutional Asset Management B.V. reduced its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 41.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,901 shares of the semiconductor producer’s stock after selling 13,825 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.06% of Silicon Motion Technology worth $1,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quadrant Capital Group LLC boosted its stake in shares of Silicon Motion Technology by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,227 shares of the semiconductor producer’s stock valued at $198,000 after buying an additional 1,291 shares during the last quarter. Heartland Advisors Inc. lifted its stake in Silicon Motion Technology by 63.9% during the fourth quarter. Heartland Advisors Inc. now owns 327,875 shares of the semiconductor producer’s stock worth $20,089,000 after purchasing an additional 127,875 shares during the last quarter. KLR Investment Advisors LLC bought a new position in Silicon Motion Technology during the fourth quarter worth $203,000. Pertento Partners LLP lifted its stake in Silicon Motion Technology by 262.6% during the fourth quarter. Pertento Partners LLP now owns 605,469 shares of the semiconductor producer’s stock worth $37,097,000 after purchasing an additional 438,469 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Silicon Motion Technology by 0.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 73,150 shares of the semiconductor producer’s stock worth $4,482,000 after purchasing an additional 341 shares during the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SIMO. JPMorgan Chase & Co. raised their price objective on Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Silicon Motion Technology in a research note on Monday, May 6th. Craig Hallum raised their price objective on Silicon Motion Technology from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Morgan Stanley raised Silicon Motion Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $88.00 in a research report on Monday, May 6th. Finally, B. Riley increased their target price on Silicon Motion Technology from $101.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $91.13.

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $80.31 on Thursday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 0.74 and a beta of 0.87. Silicon Motion Technology Co. has a one year low of $49.50 and a one year high of $95.33. The stock’s fifty day moving average is $76.21 and its 200-day moving average is $67.82.

Silicon Motion Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is 113.07%.

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.