Fulcrum Asset Management LLP Purchases 8,162 Shares of Silicon Motion Technology Corporation $SIMO

Fulcrum Asset Management LLP raised its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 203.1% in the third quarter, HoldingsChannel reports. The fund owned 12,180 shares of the semiconductor producer’s stock after purchasing an additional 8,162 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Silicon Motion Technology were worth $3,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SIMO. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Silicon Motion Technology during the third quarter worth approximately $2,485,000. StoneX Group Inc. bought a new position in Silicon Motion Technology in the 3rd quarter valued at about $235,000. CenterBook Partners LP lifted its position in Silicon Motion Technology by 20.7% in the 3rd quarter. CenterBook Partners LP now owns 7,930 shares of the semiconductor producer’s stock valued at $2,220,000 after acquiring an additional 1,361 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in Silicon Motion Technology by 14.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 1,848 shares of the semiconductor producer’s stock valued at $517,000 after purchasing an additional 232 shares during the last quarter. Finally, AIGH Capital Management LLC boosted its stake in Silicon Motion Technology by 13.9% during the 3rd quarter. AIGH Capital Management LLC now owns 164,000 shares of the semiconductor producer’s stock valued at $45,920,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Up 5.7%

Shares of NASDAQ SIMO opened at $172.01 on Tuesday. The company has a current ratio of 5.68, a quick ratio of 3.65 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average of $239.96 and a 200-day moving average of $215.44. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.33 and a beta of 1.78. Silicon Motion Technology Corporation has a 12 month low of $79.76 and a 12 month high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $1.05. Silicon Motion Technology had a net margin of 19.36% and a return on equity of 32.29%. The business had revenue of $560.22 million during the quarter, compared to analyst estimates of $529.10 million. During the same period in the previous year, the business posted $1.00 earnings per share. Silicon Motion Technology’s revenue for the quarter was up 131.5% on a year-over-year basis. Sell-side analysts expect that Silicon Motion Technology Corporation will post 10.20 earnings per share for the current fiscal year.

Silicon Motion Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a $0.5750 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.50. Silicon Motion Technology’s payout ratio is currently 21.44%.

Analyst Ratings Changes

Several brokerages recently commented on SIMO. Craig Hallum reaffirmed a “buy” rating and set a $325.00 price objective on shares of Silicon Motion Technology in a research note on Friday, July 31st. Wall Street Zen cut shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Roth Capital reissued a “buy” rating and issued a $350.00 price target on shares of Silicon Motion Technology in a report on Thursday, July 30th. Susquehanna boosted their price target on shares of Silicon Motion Technology from $275.00 to $350.00 and gave the company a “positive” rating in a research report on Friday, July 31st. Finally, Needham & Company LLC boosted their price target on shares of Silicon Motion Technology from $240.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $328.75.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and markets NAND flash controllers and related storage solutions. Its products help manage data storage and retrieval in devices that use NAND flash memory.

The company’s offerings include controllers for solid-state drives (SSDs), embedded storage such as eMMC and UFS, and removable storage products including memory cards and USB flash drives. Silicon Motion also develops firmware and other technologies for storage applications.

Founded in 1995, Silicon Motion serves customers around the world, including storage-device manufacturers, module makers and electronics companies.