Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 29.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 91,043 shares of the semiconductor producer’s stock after selling 37,256 shares during the period. Harbor Capital Advisors Inc. owned about 0.27% of Silicon Motion Technology worth $4,921,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Silicon Motion Technology by 129.4% in the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after acquiring an additional 251 shares during the period. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 484 shares during the last quarter. Blue Trust Inc. grew its stake in Silicon Motion Technology by 139.5% during the 3rd quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock worth $83,000 after buying an additional 795 shares during the last quarter. Headlands Technologies LLC bought a new position in Silicon Motion Technology during the 2nd quarter worth $139,000. Finally, Van ECK Associates Corp bought a new stake in Silicon Motion Technology in the third quarter valued at $151,000. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Down 4.0 %

Shares of Silicon Motion Technology stock opened at $52.96 on Friday. The business has a fifty day simple moving average of $54.91 and a 200-day simple moving average of $61.24. Silicon Motion Technology Co. has a fifty-two week low of $50.50 and a fifty-two week high of $85.87. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80.

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

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.78%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 75.76%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SIMO. Craig Hallum lowered their price target on shares of 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. Morgan Stanley decreased their target price on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Needham & Company LLC cut their price target on Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Roth Mkm decreased their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Finally, StockNews.com raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Motion Technology currently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

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.