Silicon Motion Technology (NASDAQ:SIMO) Stock Price Down 3.8% – What’s Next?

Silicon Motion Technology Co. (NASDAQ:SIMO)’s share price was down 3.8% during trading on Tuesday . The stock traded as low as $54.48 and last traded at $54.36. Approximately 37,025 shares were traded during trading, a decline of 89% from the average daily volume of 342,340 shares. The stock had previously closed at $56.50.

Analyst Upgrades and Downgrades

SIMO has been the topic of a number of research reports. StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Silicon Motion Technology in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.63.

Silicon Motion Technology Stock Down 4.2 %

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.36 and a beta of 0.71. The business has a 50-day simple moving average of $54.21 and a two-hundred day simple moving average of $55.44.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. As a group, equities analysts anticipate that Silicon Motion Technology Co. will post 3.08 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.69%. Silicon Motion Technology’s payout ratio is presently 74.35%.

Silicon Motion Technology declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Silicon Motion Technology

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in shares of Silicon Motion Technology by 129.4% during the 3rd 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 last quarter. GAMMA Investing LLC increased its position in 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 during the period. Menard Financial Group LLC acquired a new position in shares of Silicon Motion Technology during the fourth quarter worth approximately $88,000. Blue Trust Inc. lifted its holdings in shares of Silicon Motion Technology by 64.7% during the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after buying an additional 883 shares during the last quarter. Finally, LRI Investments LLC boosted its position in shares of Silicon Motion Technology by 519.0% in the fourth quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer’s stock valued at $164,000 after acquiring an additional 2,543 shares during the period. 78.02% of the stock is currently owned by institutional investors.

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.