Silicon Motion Technology Corporation $SIMO Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 29.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,378 shares of the semiconductor producer’s stock after purchasing an additional 59,032 shares during the quarter. Russell Investments Group Ltd. owned 0.76% of Silicon Motion Technology worth $72,245,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of Silicon Motion Technology by 2.3% during the first quarter. Assetmark Inc. now owns 2,814 shares of the semiconductor producer’s stock valued at $316,000 after buying an additional 63 shares during the period. Greenleaf Trust raised its holdings in shares of Silicon Motion Technology by 7.9% in the third quarter. Greenleaf Trust now owns 1,025 shares of the semiconductor producer’s stock worth $287,000 after buying an additional 75 shares during the period. Cooper Investors PTY Ltd. purchased a new stake in shares of Silicon Motion Technology in the second quarter worth approximately $34,000. Stronghold Wealth Management L.L.C. raised its holdings in shares of Silicon Motion Technology by 17.8% in the third quarter. Stronghold Wealth Management L.L.C. now owns 740 shares of the semiconductor producer’s stock worth $207,000 after buying an additional 112 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Silicon Motion Technology by 33.5% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 658 shares of the semiconductor producer’s stock worth $184,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SIMO shares. Zacks Research lowered Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Wall Street Zen downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Sunday. China Renaissance assumed coverage on Silicon Motion Technology in a research report on Wednesday, October 28th. They issued a “buy” rating and a $300.00 price objective on the stock. Weiss Ratings lowered Silicon Motion Technology from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Finally, Susquehanna lifted their target price on Silicon Motion Technology from $275.00 to $350.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and an average target price of $328.75.

Silicon Motion Technology Trading Down 5.6%

Shares of Silicon Motion Technology stock traded down $10.05 on Friday, hitting $169.45. 718,402 shares of the company traded hands, compared to its average volume of 1,085,718. The stock’s 50 day moving average price is $234.74 and its 200-day moving average price is $216.66. The company has a current ratio of 5.68, a quick ratio of 3.65 and a debt-to-equity ratio of 1.00. Silicon Motion Technology Corporation has a 52 week low of $79.76 and a 52 week high of $355.00. The company has a market cap of $5.75 billion, a PE ratio of 18.26, a PEG ratio of 0.32 and a beta of 1.78.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $1.05. The company had revenue of $560.22 million for the quarter, compared to analysts’ expectations of $529.10 million. Silicon Motion Technology had a return on equity of 32.29% and a net margin of 19.36%. Silicon Motion Technology’s revenue was up 131.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. Equities research analysts predict that Silicon Motion Technology Corporation will post 10.20 EPS for the current 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 represents a $2.30 dividend on an annualized basis and a dividend yield of 1.4%. 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 dividend payout ratio is currently 24.68%.

About Silicon Motion Technology

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.