Rice Hall James & Associates LLC decreased its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 655,099 shares of the semiconductor producer's stock after selling 20,392 shares during the period. Silicon Motion Technology accounts for approximately 1.7% of Rice Hall James & Associates LLC's holdings, making the stock its 11th biggest holding. Rice Hall James & Associates LLC's holdings in Silicon Motion Technology were worth $43,774,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Standard Family Office LLC bought a new stake in Silicon Motion Technology in the fourth quarter worth about $35,000. Optimum Investment Advisors bought a new stake in Silicon Motion Technology in the fourth quarter worth about $48,000. Covestor Ltd purchased a new position in shares of Silicon Motion Technology during the first quarter worth approximately $97,000. SG Americas Securities LLC purchased a new position in shares of Silicon Motion Technology during the first quarter worth approximately $201,000. Finally, Sage Mountain Advisors LLC purchased a new position in shares of Silicon Motion Technology during the first quarter worth approximately $201,000. Institutional investors own 72.12% of the company's stock.
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Silicon Motion Technology Stock Up 0.4 %
SIMO stock traded up $0.27 during trading on Wednesday, hitting $72.15. 1,615 shares of the company's stock traded hands, compared to its average volume of 590,902. The firm has a market capitalization of $2.38 billion, a P/E ratio of 11.13, a PEG ratio of 1.18 and a beta of 0.99. The business has a fifty day simple moving average of $80.51 and a two-hundred day simple moving average of $80.35. Silicon Motion Technology Co. has a 1 year low of $64.41 and a 1 year high of $98.65.
Silicon Motion Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.77%. The ex-dividend date was Wednesday, August 10th. Silicon Motion Technology's dividend payout ratio is currently 30.80%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on SIMO. StockNews.com raised shares of Silicon Motion Technology from a "hold" rating to a "buy" rating in a research report on Monday. Wedbush reduced their target price on shares of Silicon Motion Technology from $115.00 to $110.00 in a research report on Thursday, July 28th. Finally, B. Riley reduced their target price on shares of Silicon Motion Technology from $114.00 to $107.00 in a research report on Monday, August 1st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $106.17.
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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