Robeco Institutional Asset Management B.V. Lowers Stock Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Robeco Institutional Asset Management B.V. trimmed its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 33.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,938 shares of the semiconductor producer’s stock after selling 124,386 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.75% of Silicon Motion Technology worth $13,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Silicon Motion Technology by 27.7% in the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after buying an additional 485,862 shares during the period. Reinhart Partners LLC. boosted its position in 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 valued at $61,387,000 after buying an additional 55,363 shares during the period. Lord Abbett & CO. LLC boosted its position in 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 buying an additional 196,609 shares during the period. Erste Asset Management GmbH purchased a new stake in Silicon Motion Technology in the 3rd quarter valued at about $40,331,000. Finally, The Manufacturers Life Insurance Company boosted its position in Silicon Motion Technology by 36.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer’s stock valued at $34,671,000 after buying an additional 152,467 shares during the period. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Stock Up 1.9 %

NASDAQ SIMO opened at $54.61 on Friday. The firm has a market cap of $1.84 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80. The company has a 50 day moving average price of $54.54 and a 200 day moving average price of $58.25. Silicon Motion Technology Co. has a 52 week low of $48.81 and a 52 week high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor producer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. The firm had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.49 million. Silicon Motion Technology had a net margin of 10.90% and a return on equity of 11.52%. Silicon Motion Technology’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. On average, equities research analysts anticipate that Silicon Motion Technology Co. will post 2.58 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.66%. Silicon Motion Technology’s payout ratio is 75.38%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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. StockNews.com lowered shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Tuesday. Craig Hallum reduced 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 report on Thursday, October 31st. Needham & Company LLC reduced their price target on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Roth Mkm reduced their price target on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

About Silicon Motion Technology

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.