Granahan Investment Management LLC reduced its stake in Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,273 shares of the semiconductor producer's stock after selling 26,927 shares during the period. Granahan Investment Management LLC owned 0.41% of Silicon Motion Technology worth $9,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Renaissance Group LLC raised its holdings in shares of Silicon Motion Technology by 10.9% in the 1st quarter. Renaissance Group LLC now owns 12,661 shares of the semiconductor producer's stock worth $846,000 after purchasing an additional 1,248 shares in the last quarter. Easterly Investment Partners LLC raised its holdings in shares of Silicon Motion Technology by 43.8% in the 1st quarter. Easterly Investment Partners LLC now owns 98,332 shares of the semiconductor producer's stock worth $6,571,000 after purchasing an additional 29,957 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Silicon Motion Technology by 44.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,900 shares of the semiconductor producer's stock worth $261,000 after purchasing an additional 1,200 shares in the last quarter. Thomas White International Ltd. raised its holdings in shares of Silicon Motion Technology by 0.6% in the 1st quarter. Thomas White International Ltd. now owns 132,191 shares of the semiconductor producer's stock worth $8,833,000 after purchasing an additional 733 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Silicon Motion Technology by 22.1% in the 1st quarter. First Trust Advisors LP now owns 27,428 shares of the semiconductor producer's stock worth $1,833,000 after purchasing an additional 4,959 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on SIMO shares. StockNews.com downgraded shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Friday, July 29th. B. Riley cut their price target on shares of Silicon Motion Technology from $114.00 to $107.00 in a report on Monday, August 1st. Finally, Wedbush cut their price target on shares of Silicon Motion Technology from $115.00 to $110.00 in a report on Thursday, July 28th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $106.17.

Silicon Motion Technology Price Performance

Silicon Motion Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were paid a $0.50 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $2.00 annualized dividend and a yield of 2.70%. Silicon Motion Technology's dividend payout ratio is presently 30.80%.

Silicon Motion Technology Company Profile

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Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. It 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.

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