Juncture Wealth Strategies LLC increased its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO – Get Rating) by 26.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,257 shares of the semiconductor producer's stock after acquiring an additional 1,327 shares during the quarter. Juncture Wealth Strategies LLC's holdings in Silicon Motion Technology were worth $524,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strategic Wealth Partners Ltd. raised its stake in Silicon Motion Technology by 31.9% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 41,648 shares of the semiconductor producer's stock worth $2,783,000 after acquiring an additional 10,079 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Silicon Motion Technology by 76.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 94,996 shares of the semiconductor producer's stock worth $6,348,000 after acquiring an additional 41,020 shares in the last quarter. Worth Venture Partners LLC raised its stake in Silicon Motion Technology by 11.4% during the 1st quarter. Worth Venture Partners LLC now owns 93,572 shares of the semiconductor producer's stock worth $6,252,000 after acquiring an additional 9,600 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Silicon Motion Technology by 4.3% during the 1st quarter. Advisors Asset Management Inc. now owns 43,048 shares of the semiconductor producer's stock worth $2,876,000 after acquiring an additional 1,756 shares in the last quarter. Finally, Penn Capital Management Company LLC raised its stake in Silicon Motion Technology by 2.9% during the 1st quarter. Penn Capital Management Company LLC now owns 175,316 shares of the semiconductor producer's stock worth $12,395,000 after acquiring an additional 4,887 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Several brokerages recently commented on SIMO. Wedbush cut their price target on shares of Silicon Motion Technology from $115.00 to $110.00 in a research note on Thursday, July 28th. B. Riley lowered their price objective on shares of Silicon Motion Technology from $114.00 to $107.00 in a research report on Monday, August 1st. Finally, StockNews.com downgraded shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Silicon Motion Technology currently has a consensus rating of "Hold" and a consensus target price of $106.17.
Silicon Motion Technology Stock Performance
Silicon Motion Technology stock traded up $0.13 during midday trading on Thursday, hitting $70.14. 22,576 shares of the company's stock were exchanged, compared to its average volume of 328,366. Silicon Motion Technology Co. has a 12-month low of $64.41 and a 12-month high of $98.65. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.12 and a beta of 0.99. The firm's 50 day simple moving average is $79.13 and its 200 day simple moving average is $80.25.
Silicon Motion Technology Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Wednesday, August 10th. Silicon Motion Technology's payout ratio is 30.80%.
Silicon Motion Technology 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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