Oddo BHF Asset Management Sas Purchases New Shares in Silicon Motion Technology Co. (NASDAQ:SIMO)

Oddo BHF Asset Management Sas acquired a new position in Silicon Motion Technology Co. (NASDAQ:SIMO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 217,500 shares of the semiconductor producer’s stock, valued at approximately $13,211,000. Oddo BHF Asset Management Sas owned approximately 0.65% of Silicon Motion Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in SIMO. Cerity Partners LLC acquired a new position in shares of Silicon Motion Technology during the third quarter valued at $1,826,000. Harbor Capital Advisors Inc. grew its position in shares of Silicon Motion Technology by 95.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 128,299 shares of the semiconductor producer’s stock worth $7,793,000 after buying an additional 62,733 shares during the period. National Bank of Canada FI boosted its stake in Silicon Motion Technology by 6,186.7% in the second quarter. National Bank of Canada FI now owns 47,150 shares of the semiconductor producer’s stock valued at $3,766,000 after acquiring an additional 46,400 shares during the last quarter. FMR LLC grew its holdings in Silicon Motion Technology by 27.7% during the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after acquiring an additional 485,862 shares during the period. Finally, Resolute Capital Asset Partners LLC raised its position in shares of Silicon Motion Technology by 44.4% during the 2nd quarter. Resolute Capital Asset Partners LLC now owns 65,000 shares of the semiconductor producer’s stock valued at $5,264,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

SIMO has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. Morgan Stanley dropped their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America cut Silicon Motion Technology from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $90.00 to $60.00 in a report on Friday, August 16th. Craig Hallum cut their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Susquehanna dropped their price target on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Silicon Motion Technology Trading Up 3.0 %

NASDAQ SIMO opened at $57.95 on Friday. Silicon Motion Technology Co. has a 1 year low of $50.50 and a 1 year high of $85.87. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.53 and a beta of 0.82. The firm’s 50 day simple moving average is $55.61 and its 200 day simple moving average is $64.93.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. On average, equities research analysts forecast that Silicon Motion Technology Co. will post 2.59 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.45%. The ex-dividend date was Thursday, November 14th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 75.38%.

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.