Silicon Motion Technology Co. (NASDAQ:SIMO) is Heartland Advisors Inc.’s 10th Largest Position

Heartland Advisors Inc. boosted its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 447,138 shares of the semiconductor producer’s stock after purchasing an additional 79,383 shares during the period. Silicon Motion Technology makes up approximately 1.3% of Heartland Advisors Inc.’s portfolio, making the stock its 10th biggest holding. Heartland Advisors Inc. owned approximately 1.33% of Silicon Motion Technology worth $24,168,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in shares of Silicon Motion Technology by 27.7% in the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after buying an additional 485,862 shares during the period. Reinhart Partners LLC. raised its holdings in shares of Silicon Motion Technology by 5.1% in the 4th quarter. Reinhart Partners LLC. now owns 1,135,738 shares of the semiconductor producer’s stock worth $61,387,000 after purchasing an additional 55,363 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Silicon Motion Technology by 21.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock valued at $67,051,000 after purchasing an additional 196,609 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Silicon Motion Technology during the 3rd quarter worth about $40,331,000. Finally, The Manufacturers Life Insurance Company increased its position in Silicon Motion Technology by 36.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer’s stock worth $34,671,000 after purchasing an additional 152,467 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SIMO. StockNews.com lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Silicon Motion Technology in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.63.

Silicon Motion Technology Stock Down 2.8 %

Shares of NASDAQ SIMO opened at $51.62 on Friday. Silicon Motion Technology Co. has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The business has a 50 day moving average price of $54.35 and a two-hundred day moving average price of $55.38. The firm has a market cap of $1.74 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.36 and a beta of 0.71.

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

Silicon Motion Technology announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor producer to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders 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 dividend yield of 3.87%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 74.35%.

Silicon Motion Technology 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.