Orion Portfolio Solutions LLC Acquires 2,543 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Orion Portfolio Solutions LLC increased its holdings in Silicon Motion Technology Co. (NASDAQ:SIMOFree Report) by 51.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,510 shares of the semiconductor producer’s stock after purchasing an additional 2,543 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Silicon Motion Technology were worth $488,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund bought a new position in shares of Silicon Motion Technology in the 3rd quarter worth $837,000. Massachusetts Financial Services Co. MA bought a new stake in Silicon Motion Technology during the third quarter valued at about $15,512,000. Janney Montgomery Scott LLC grew its stake in Silicon Motion Technology by 8.2% in the third quarter. Janney Montgomery Scott LLC now owns 72,809 shares of the semiconductor producer’s stock valued at $3,731,000 after purchasing an additional 5,493 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in Silicon Motion Technology in the third quarter worth about $208,000. Finally, Gabelli Funds LLC lifted its position in shares of Silicon Motion Technology by 57.1% during the third quarter. Gabelli Funds LLC now owns 64,661 shares of the semiconductor producer’s stock valued at $3,314,000 after buying an additional 23,500 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

SIMO has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research report on Monday, May 6th. Craig Hallum lifted their price target on shares of Silicon Motion Technology from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, May 6th. JPMorgan Chase & Co. increased their price objective on Silicon Motion Technology from $77.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of Silicon Motion Technology in a research report on Friday, May 3rd. Finally, Susquehanna upped their target price on Silicon Motion Technology from $100.00 to $110.00 and gave the company a “positive” rating in a research report on Monday, May 6th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Buy” and a consensus target price of $91.13.

Check Out Our Latest Research Report on Silicon Motion Technology

Silicon Motion Technology Price Performance

Shares of SIMO stock opened at $83.72 on Friday. The business has a fifty day moving average of $76.92 and a 200 day moving average of $69.36. Silicon Motion Technology Co. has a 1 year low of $49.50 and a 1 year high of $95.33. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 47.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.89.

Silicon Motion Technology (NASDAQ:SIMOGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor producer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Silicon Motion Technology had a return on equity of 7.78% and a net margin of 8.34%. The business had revenue of $189.31 million for the quarter, compared to analyst estimates of $180.23 million. As a group, equities research analysts expect that Silicon Motion Technology Co. will post 2.77 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, May 8th. Silicon Motion Technology’s dividend payout ratio is presently 113.07%.

Silicon Motion Technology Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Motion Technology Co. (NASDAQ:SIMOFree Report).

Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.