TradeLink Capital LLC Makes New $228,000 Investment in Silicon Motion Technology Co. (NASDAQ:SIMO)

TradeLink Capital LLC bought a new position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,225 shares of the semiconductor producer’s stock, valued at approximately $228,000. Silicon Motion Technology comprises approximately 2.2% of TradeLink Capital LLC’s investment portfolio, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SIMO. Erste Asset Management GmbH bought a new stake in Silicon Motion Technology during the third quarter worth $40,331,000. FMR LLC lifted its stake in Silicon Motion Technology by 27.7% during the third quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock worth $136,032,000 after purchasing an additional 485,862 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Silicon Motion Technology during the third quarter worth $13,211,000. Lord Abbett & CO. LLC lifted its stake in 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 purchasing an additional 196,609 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Silicon Motion Technology by 36.4% during the third quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer’s stock worth $34,671,000 after purchasing an additional 152,467 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.

Silicon Motion Technology Stock Up 0.2 %

NASDAQ SIMO opened at $52.76 on Friday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a twelve month low of $48.81 and a twelve month high of $85.87. The stock has a fifty day simple moving average of $54.38 and a 200 day simple moving average of $56.15.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. Research analysts expect that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology announced that its Board of Directors has authorized a share buyback program on Wednesday, February 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the semiconductor producer to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Silicon Motion Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.79%. Silicon Motion Technology’s payout ratio is currently 74.35%.

Analysts Set New Price Targets

SIMO has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Silicon Motion Technology in a research note on Friday, February 7th. StockNews.com cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Silicon Motion Technology currently has an average rating of “Moderate Buy” and an average 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.