F M Investments LLC Has $2.83 Million Stock Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

F M Investments LLC lessened its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 66.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,406 shares of the semiconductor producer’s stock after selling 103,409 shares during the period. F M Investments LLC owned approximately 0.16% of Silicon Motion Technology worth $2,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Silicon Motion Technology by 0.7% in the third quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer’s stock valued at $2,183,000 after buying an additional 253 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Silicon Motion Technology by 7.2% in the 4th quarter. Quadrant Capital Group LLC now owns 3,959 shares of the semiconductor producer’s stock valued at $214,000 after acquiring an additional 267 shares in the last quarter. Rhumbline Advisers boosted its stake in Silicon Motion Technology by 8.7% in the 4th quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer’s stock worth $306,000 after purchasing an additional 453 shares during the period. Inspire Advisors LLC boosted its stake in Silicon Motion Technology by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer’s stock worth $704,000 after purchasing an additional 467 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after purchasing an additional 484 shares during the period. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. StockNews.com cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Silicon Motion Technology in a report on Friday, February 7th. One equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.63.

Silicon Motion Technology Trading Down 6.4 %

NASDAQ:SIMO opened at $39.62 on Friday. The stock has a market capitalization of $1.33 billion, a PE ratio of 14.73, a P/E/G ratio of 1.36 and a beta of 0.81. Silicon Motion Technology Co. has a 1-year low of $37.21 and a 1-year high of $85.87. The firm has a fifty day simple moving average of $52.40 and a 200 day simple moving average of $54.35.

Silicon Motion Technology (NASDAQ:SIMO) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS 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%. On average, equities analysts predict that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology announced that its board has authorized a share repurchase plan on Wednesday, February 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Silicon Motion Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.05%. Silicon Motion Technology’s payout ratio is 74.35%.

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.