Reinhart Partners LLC. Raises Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Reinhart Partners LLC. raised its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 43.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,080,375 shares of the semiconductor producer’s stock after purchasing an additional 326,358 shares during the period. Silicon Motion Technology makes up about 2.5% of Reinhart Partners LLC.’s investment portfolio, making the stock its 16th largest holding. Reinhart Partners LLC. owned 3.21% of Silicon Motion Technology worth $65,622,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SIMO. Blue Trust Inc. boosted its stake in shares of Silicon Motion Technology by 3,971.4% in the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 556 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Silicon Motion Technology in the 2nd quarter worth $139,000. LRI Investments LLC purchased a new position in shares of Silicon Motion Technology in the 1st quarter worth $150,000. PNC Financial Services Group Inc. boosted its stake in shares of Silicon Motion Technology by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the semiconductor producer’s stock worth $155,000 after buying an additional 821 shares during the last quarter. Finally, HBK Sorce Advisory LLC bought a new position in Silicon Motion Technology in the 1st quarter worth $204,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Roth Mkm decreased their target price on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. B. Riley decreased their target price on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Bank of America cut Silicon Motion Technology from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $90.00 to $60.00 in a report on Friday, August 16th. Finally, Morgan Stanley decreased their target price on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.11.

Silicon Motion Technology Stock Down 0.5 %

Shares of Silicon Motion Technology stock opened at $59.93 on Friday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 0.96 and a beta of 0.83. The business has a 50-day moving average price of $60.28 and a 200-day moving average price of $71.62. Silicon Motion Technology Co. has a twelve month low of $51.85 and a twelve month high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its quarterly earnings data on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $210.67 million during the quarter, compared to analyst estimates of $206.75 million. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. The business’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. On average, equities analysts expect that Silicon Motion Technology Co. will post 2.8 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 3.34%. Silicon Motion Technology’s dividend payout ratio is currently 113.07%.

Silicon Motion Technology Company 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.