Silicon Motion Technology Corporation $SIMO Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 23.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 26,314 shares of the semiconductor producer’s stock after selling 7,900 shares during the period. Skylands Capital LLC’s holdings in Silicon Motion Technology were worth $7,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hawk Ridge Capital Management LP increased its stake in shares of Silicon Motion Technology by 48.9% in the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock valued at $131,752,000 after purchasing an additional 385,568 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Silicon Motion Technology by 3.1% during the first quarter. Lazard Asset Management LLC now owns 781,981 shares of the semiconductor producer’s stock valued at $87,809,000 after buying an additional 23,403 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Silicon Motion Technology by 112.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock valued at $47,802,000 after buying an additional 225,221 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Silicon Motion Technology by 2.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 307,570 shares of the semiconductor producer’s stock worth $86,120,000 after buying an additional 7,871 shares during the period. Finally, Schwartz Investment Counsel Inc. boosted its position in shares of Silicon Motion Technology by 36.4% during the first quarter. Schwartz Investment Counsel Inc. now owns 300,000 shares of the semiconductor producer’s stock worth $33,687,000 after buying an additional 80,000 shares during the period. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $222.30 on Thursday. Silicon Motion Technology Corporation has a 12-month low of $79.76 and a 12-month high of $355.00. The stock has a market capitalization of $7.54 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 0.38 and a beta of 1.69. The firm has a 50 day simple moving average of $256.16 and a 200-day simple moving average of $251.19.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, July 29th. The semiconductor producer reported $2.43 EPS for the quarter, topping the consensus estimate of $2.13 by $0.30. The firm had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $403.41 million. Silicon Motion Technology had a return on equity of 32.04% and a net margin of 22.06%. The firm’s quarterly revenue was up 127.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. On average, analysts forecast that Silicon Motion Technology Corporation will post 10.60 earnings per share for the current fiscal year.

Silicon Motion Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.5750 per share. This is a boost from Silicon Motion Technology’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, November 5th. This represents a $2.30 annualized dividend and a dividend yield of 1.0%. Silicon Motion Technology’s payout ratio is 26.96%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SIMO. Needham & Company LLC increased their price objective on Silicon Motion Technology from $240.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Roth Capital restated a “buy” rating and issued a $350.00 target price on shares of Silicon Motion Technology in a research report on Thursday, July 30th. Craig Hallum reaffirmed a “buy” rating and set a $325.00 target price on shares of Silicon Motion Technology in a research note on Friday, July 31st. Weiss Ratings downgraded Silicon Motion Technology from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Finally, B. Riley Financial boosted their price target on Silicon Motion Technology from $312.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $341.43.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs, develops and markets NAND flash storage controllers. Its products manage the storage, performance, reliability and power consumption of data stored in NAND flash memory and are used in a range of consumer, mobile, computing and industrial applications.

The company’s product portfolio includes controllers for solid-state drives (SSDs), embedded storage products such as eMMC and UFS devices, and other flash-based storage solutions.