SG Americas Securities LLC Has $151,000 Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

SG Americas Securities LLC decreased its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 91.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,793 shares of the semiconductor producer’s stock after selling 31,124 shares during the period. SG Americas Securities LLC’s holdings in Silicon Motion Technology were worth $151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in Silicon Motion Technology by 129.4% during the third 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 period. Geode Capital Management LLC raised its holdings in shares of Silicon Motion Technology by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer’s stock worth $2,183,000 after buying an additional 253 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after buying an additional 484 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Silicon Motion Technology by 15.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,215 shares of the semiconductor producer’s stock worth $317,000 after buying an additional 707 shares during the period. Finally, Blue Trust Inc. boosted its stake in Silicon Motion Technology by 139.5% in the 3rd quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock valued at $83,000 after buying an additional 795 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Performance

Shares of SIMO opened at $53.28 on Tuesday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.34 and a beta of 0.79. Silicon Motion Technology Co. has a 52 week low of $48.81 and a 52 week high of $85.87. The business’s fifty day moving average price is $54.62 and its two-hundred day moving average price is $57.23.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.59% and a net margin of 11.29%. As a group, research analysts forecast that Silicon Motion Technology Co. will post 2.91 EPS for the current year.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.75%. Silicon Motion Technology’s payout ratio is 73.98%.

Silicon Motion Technology declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Susquehanna cut their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a report on Friday, November 1st. StockNews.com raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Craig Hallum decreased their price objective on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Silicon Motion Technology in a research note on Friday. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.63.

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.