Silicon Motion Technology Co. (NASDAQ:SIMO) is Pertento Partners LLP’s 4th Largest Position

Pertento Partners LLP raised its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 31.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,166,914 shares of the semiconductor producer’s stock after buying an additional 277,462 shares during the quarter. Silicon Motion Technology accounts for 5.3% of Pertento Partners LLP’s investment portfolio, making the stock its 4th biggest holding. Pertento Partners LLP’s holdings in Silicon Motion Technology were worth $63,072,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SIMO. Cerity Partners LLC purchased a new position in Silicon Motion Technology during the 3rd quarter worth $1,826,000. JPMorgan Chase & Co. increased its holdings in shares of Silicon Motion Technology by 21.8% during the third quarter. JPMorgan Chase & Co. now owns 200,016 shares of the semiconductor producer’s stock valued at $12,149,000 after acquiring an additional 35,741 shares in the last quarter. Perigon Wealth Management LLC purchased a new position in shares of Silicon Motion Technology in the 4th quarter valued at approximately $431,000. FMR LLC boosted its stake in Silicon Motion Technology by 27.7% in the 3rd 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 in the last quarter. Finally, Stifel Financial Corp grew its position in Silicon Motion Technology by 30.3% during the 3rd quarter. Stifel Financial Corp now owns 12,175 shares of the semiconductor producer’s stock worth $739,000 after purchasing an additional 2,833 shares during the last quarter. 78.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Silicon Motion Technology in a research report on Friday, February 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report 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 stock. Based on data from MarketBeat.com, Silicon Motion Technology has an average rating of “Moderate Buy” and a consensus target price of $80.63.

Silicon Motion Technology Stock Down 1.7 %

SIMO stock opened at $50.73 on Friday. The stock has a market capitalization of $1.71 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.36 and a beta of 0.71. Silicon Motion Technology Co. has a 52 week low of $48.81 and a 52 week high of $85.87. The firm has a 50-day simple moving average of $54.33 and a 200-day simple moving average of $55.33.

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 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, analysts expect that Silicon Motion Technology Co. will post 3.08 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.00 annualized dividend and a yield of 3.94%. Silicon Motion Technology’s dividend payout ratio (DPR) is presently 74.35%.

Silicon Motion Technology declared that its board has authorized a stock buyback program on Wednesday, February 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the semiconductor producer to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.