XTX Topco Ltd Purchases Shares of 2,712 Silicon Motion Technology Co. (NASDAQ:SIMO)

XTX Topco Ltd bought a new stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,712 shares of the semiconductor producer’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in Silicon Motion Technology by 154.9% in the 4th quarter. Parallel Advisors LLC now owns 548 shares of the semiconductor producer’s stock worth $34,000 after purchasing an additional 333 shares in the last quarter. Blue Trust Inc. raised its stake in Silicon Motion Technology by 3,971.4% in 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. Barometer Capital Management Inc. bought a new stake in Silicon Motion Technology during the 4th quarter valued at approximately $123,000. Headlands Technologies LLC purchased a new position in shares of Silicon Motion Technology during the 2nd quarter worth approximately $139,000. Finally, LRI Investments LLC bought a new position in shares of Silicon Motion Technology in the 1st quarter worth approximately $150,000. Institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SIMO shares. Needham & Company LLC upped their price target on Silicon Motion Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. StockNews.com upgraded shares of Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Morgan Stanley cut their price objective on shares of Silicon Motion Technology from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America cut Silicon Motion Technology from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $90.00 to $60.00 in a research report on Friday, August 16th. Finally, B. Riley reduced their price objective on Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Silicon Motion Technology Trading Down 1.4 %

Silicon Motion Technology stock opened at $60.59 on Monday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 0.92 and a beta of 0.84. Silicon Motion Technology Co. has a 12 month low of $49.50 and a 12 month high of $85.87. The stock has a fifty day simple moving average of $62.10 and a two-hundred day simple moving average of $72.50.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Friday, August 2nd. The semiconductor producer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $210.67 million during the quarter, compared to analyst estimates of $206.75 million. Silicon Motion Technology had a return on equity of 10.31% and a net margin of 10.14%. Silicon Motion Technology’s revenue was up 50.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities research analysts forecast that Silicon Motion Technology Co. will post 2.8 EPS for the current fiscal year.

Silicon Motion Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Thursday, August 8th. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 113.07%.

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.