Naples Global Advisors LLC Has $1.12 Million Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Naples Global Advisors LLC cut its position in Silicon Motion Technology Co. (NASDAQ:SIMO) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,725 shares of the semiconductor producer’s stock after selling 360 shares during the period. Naples Global Advisors LLC owned 0.06% of Silicon Motion Technology worth $1,120,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SIMO. FMR LLC raised its stake in shares of Silicon Motion Technology by 27.7% in the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after acquiring an additional 485,862 shares during the last quarter. Reinhart Partners LLC. increased its stake in shares of Silicon Motion Technology by 5.1% in the 4th quarter. Reinhart Partners LLC. now owns 1,135,738 shares of the semiconductor producer’s stock valued at $61,387,000 after buying an additional 55,363 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Silicon Motion Technology by 21.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock worth $67,051,000 after acquiring an additional 196,609 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Silicon Motion Technology during the third quarter valued at $40,331,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Silicon Motion Technology by 36.4% in the third quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer’s stock valued at $34,671,000 after acquiring an additional 152,467 shares during the last quarter. 78.02% of the stock is owned by institutional investors.

Silicon Motion Technology Price Performance

SIMO opened at $55.28 on Friday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.34 and a beta of 0.79. The business’s 50-day moving average price is $54.51 and its two-hundred day moving average price is $56.99. Silicon Motion Technology Co. has a 1 year low of $48.81 and a 1 year high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.59% and a net margin of 11.29%. Sell-side analysts anticipate that Silicon Motion Technology Co. will post 2.91 earnings per share for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio (DPR) is 73.98%.

Silicon Motion Technology announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor producer to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SIMO. Craig Hallum cut their target price on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Susquehanna cut their price objective on shares of Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. StockNews.com cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Silicon Motion Technology in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Silicon Motion Technology presently has an average rating of “Moderate Buy” and a consensus price target of $80.63.

Silicon Motion Technology Company 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.