GSA Capital Partners LLP Sells 14,916 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

GSA Capital Partners LLP trimmed its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 51.4% during the third quarter, Holdings Channel reports. The institutional investor owned 14,079 shares of the semiconductor producer’s stock after selling 14,916 shares during the quarter. GSA Capital Partners LLP’s holdings in Silicon Motion Technology were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SIMO. SG Americas Securities LLC lifted its position in Silicon Motion Technology by 0.6% in the 3rd quarter. SG Americas Securities LLC now owns 33,917 shares of the semiconductor producer’s stock valued at $2,060,000 after acquiring an additional 197 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of Silicon Motion Technology by 1.9% in the second quarter. Inspire Advisors LLC now owns 13,074 shares of the semiconductor producer’s stock valued at $1,059,000 after purchasing an additional 249 shares in the last quarter. Sei Investments Co. boosted its position in shares of Silicon Motion Technology by 0.5% during the second quarter. Sei Investments Co. now owns 56,296 shares of the semiconductor producer’s stock valued at $4,559,000 after buying an additional 257 shares during the last quarter. Naples Global Advisors LLC boosted its position in shares of Silicon Motion Technology by 3.1% during the second quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock valued at $1,410,000 after buying an additional 525 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Silicon Motion Technology by 3,971.4% during the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 556 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SIMO has been the topic of a number of analyst reports. Roth Mkm cut their price objective on shares of Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. Bank of America lowered shares of Silicon Motion Technology from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $90.00 to $60.00 in a research note on Friday, August 16th. Morgan Stanley cut their target price on Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Craig Hallum decreased their price target on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Silicon Motion Technology Trading Down 5.2 %

Silicon Motion Technology stock opened at $51.20 on Friday. The business’s 50 day simple moving average is $56.81 and its 200 day simple moving average is $67.81. Silicon Motion Technology Co. has a 12 month low of $50.50 and a 12 month high of $85.87. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.43 and a beta of 0.84.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The company had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.49 million. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts forecast that Silicon Motion Technology Co. will post 2.59 earnings per share for the current fiscal year.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. Silicon Motion Technology’s payout ratio is 75.76%.

Silicon Motion Technology Profile

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