Hawk Ridge Capital Management LP Has $131.75 Million Position in Silicon Motion Technology Corporation $SIMO

Hawk Ridge Capital Management LP boosted its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 48.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,173,315 shares of the semiconductor producer’s stock after buying an additional 385,568 shares during the quarter. Silicon Motion Technology comprises 4.8% of Hawk Ridge Capital Management LP’s portfolio, making the stock its 5th biggest holding. Hawk Ridge Capital Management LP owned 3.46% of Silicon Motion Technology worth $131,752,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Silicon Motion Technology during the 3rd quarter worth about $26,000. WealthCollab LLC raised its stake in shares of Silicon Motion Technology by 77.4% in the 4th quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after acquiring an additional 151 shares in the last quarter. Arax Advisory Partners raised its stake in shares of Silicon Motion Technology by 220.9% in the 4th quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after acquiring an additional 307 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Silicon Motion Technology by 169.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after acquiring an additional 366 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in Silicon Motion Technology in the 4th quarter worth approximately $71,000. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Performance

NASDAQ SIMO opened at $244.45 on Tuesday. The stock has a 50-day simple moving average of $291.08 and a 200 day simple moving average of $193.84. Silicon Motion Technology Corporation has a twelve month low of $71.35 and a twelve month high of $355.00. The stock has a market capitalization of $8.29 billion, a PE ratio of 48.60, a P/E/G ratio of 0.60 and a beta of 1.70.

Silicon Motion Technology (NASDAQ:SIMO) last released its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The firm had revenue of $342.11 million for the quarter, compared to analyst estimates of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company’s revenue was up 105.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. As a group, equities research analysts forecast that Silicon Motion Technology Corporation will post 8.48 EPS for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Silicon Motion Technology’s payout ratio is 39.56%.

Insider Activity at Silicon Motion Technology

In other news, Director Han-Ping Shieh sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $328.00, for a total value of $328,000.00. Following the completion of the sale, the director directly owned 7,500 shares of the company’s stock, valued at approximately $2,460,000. This represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kuan-Ming Lin sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $305.00, for a total transaction of $610,000.00. Following the completion of the sale, the director owned 8,500 shares in the company, valued at approximately $2,592,500. The trade was a 19.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,000 shares of company stock valued at $1,239,250 over the last three months. 5.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on SIMO. Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a research report on Thursday, April 30th. Susquehanna boosted their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology has an average rating of “Buy” and an average target price of $246.43.

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.