Systematic Financial Management LP Grows Position in Silicon Motion Technology Corporation (NASDAQ:SIMO)

Systematic Financial Management LP lifted its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,618 shares of the semiconductor producer’s stock after buying an additional 3,420 shares during the period. Systematic Financial Management LP owned approximately 0.84% of Silicon Motion Technology worth $14,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Great Lakes Advisors LLC lifted its stake in shares of Silicon Motion Technology by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 6,959 shares of the semiconductor producer’s stock worth $336,000 after buying an additional 206 shares in the last quarter. Profund Advisors LLC lifted its stake in shares of Silicon Motion Technology by 5.2% in the second quarter. Profund Advisors LLC now owns 11,424 shares of the semiconductor producer’s stock worth $551,000 after buying an additional 560 shares in the last quarter. Wells Fargo & Company MN raised its stake in Silicon Motion Technology by 1.2% during the second quarter. Wells Fargo & Company MN now owns 58,659 shares of the semiconductor producer’s stock worth $2,829,000 after purchasing an additional 701 shares during the period. Suffolk Capital Management LLC raised its stake in Silicon Motion Technology by 3.5% during the second quarter. Suffolk Capital Management LLC now owns 31,506 shares of the semiconductor producer’s stock worth $1,520,000 after purchasing an additional 1,053 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Silicon Motion Technology by 5.6% during the second quarter. Janney Montgomery Scott LLC now owns 21,157 shares of the semiconductor producer’s stock worth $1,020,000 after purchasing an additional 1,119 shares during the period. 82.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Summit Redstone raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 target price (up from $54.00) on shares of Silicon Motion Technology in a research note on Monday, October 9th. Northland Securities reaffirmed a “buy” rating and set a $60.00 target price on shares of Silicon Motion Technology in a research note on Sunday, October 29th. Loop Capital reiterated a “buy” rating and set a $51.00 price target on shares of Silicon Motion Technology in a research report on Tuesday, August 22nd. Finally, BidaskClub upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $57.67.

Shares of Silicon Motion Technology Corporation (NASDAQ SIMO) traded up $0.81 during trading on Thursday, reaching $53.28. 438,468 shares of the company were exchanged, compared to its average volume of 608,467. Silicon Motion Technology Corporation has a one year low of $37.37 and a one year high of $55.68. The stock has a market capitalization of $1,919.72, a P/E ratio of 20.66 and a beta of 0.64.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Silicon Motion Technology had a net margin of 17.18% and a return on equity of 19.58%. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $127.24 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was down 19.8% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Thursday, November 9th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Wednesday, November 8th. This is an increase from Silicon Motion Technology’s previous quarterly dividend of $0.20. Silicon Motion Technology’s payout ratio is currently 35.04%.

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Silicon Motion Technology Profile

Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.

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

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