Silicon Motion Technology Corp. (SIMO) Shares Sold by Suffolk Capital Management LLC

Suffolk Capital Management LLC reduced its stake in shares of Silicon Motion Technology Corp. (NASDAQ:SIMO) by 58.2% during the 4th quarter, HoldingsChannel reports. The fund owned 12,110 shares of the semiconductor producer’s stock after selling 16,831 shares during the quarter. Suffolk Capital Management LLC’s holdings in Silicon Motion Technology were worth $641,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Royce & Associates LP grew its position in Silicon Motion Technology by 78.0% during the 3rd quarter. Royce & Associates LP now owns 801,540 shares of the semiconductor producer’s stock worth $38,498,000 after purchasing an additional 351,140 shares during the last quarter. Janus Henderson Group PLC grew its position in Silicon Motion Technology by 64.7% during the 3rd quarter. Janus Henderson Group PLC now owns 700,076 shares of the semiconductor producer’s stock worth $33,639,000 after purchasing an additional 275,089 shares during the last quarter. Wells Fargo & Company MN grew its position in Silicon Motion Technology by 236.2% during the 3rd quarter. Wells Fargo & Company MN now owns 197,230 shares of the semiconductor producer’s stock worth $9,473,000 after purchasing an additional 138,571 shares during the last quarter. Yiheng Capital LLC grew its position in Silicon Motion Technology by 43.3% during the 3rd quarter. Yiheng Capital LLC now owns 435,301 shares of the semiconductor producer’s stock worth $20,908,000 after purchasing an additional 131,515 shares during the last quarter. Finally, ARGA Investment Management LP grew its position in Silicon Motion Technology by 6.2% during the 3rd quarter. ARGA Investment Management LP now owns 1,839,779 shares of the semiconductor producer’s stock worth $88,365,000 after purchasing an additional 106,900 shares during the last quarter. Hedge funds and other institutional investors own 83.10% of the company’s stock.

Shares of Silicon Motion Technology Corp. (NASDAQ SIMO) opened at $44.77 on Friday. The firm has a market cap of $1,581.63, a PE ratio of 21.52 and a beta of 0.47. Silicon Motion Technology Corp. has a fifty-two week low of $39.91 and a fifty-two week high of $56.51.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 23rd. Stockholders of record on Thursday, May 10th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, May 9th. Silicon Motion Technology’s payout ratio is 47.60%.

Several research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Silicon Motion Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Nomura downgraded shares of Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 price objective on the stock. in a research report on Wednesday, January 10th. B. Riley reaffirmed a “buy” rating and issued a $68.75 target price on shares of Silicon Motion Technology in a report on Monday, January 8th. ValuEngine raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Summit Redstone raised shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.56.

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Silicon Motion Technology Company 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.

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

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