Silicon Motion Technology Corporation $SIMO Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 307,570 shares of the semiconductor producer’s stock after purchasing an additional 7,871 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Silicon Motion Technology were worth $86,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SIMO. Kornitzer Capital Management Inc. KS purchased a new stake in Silicon Motion Technology in the first quarter worth $4,827,000. Schwartz Investment Counsel Inc. raised its holdings in Silicon Motion Technology by 36.4% in the first quarter. Schwartz Investment Counsel Inc. now owns 300,000 shares of the semiconductor producer’s stock worth $33,687,000 after purchasing an additional 80,000 shares in the last quarter. AIGH Capital Management LLC purchased a new position in Silicon Motion Technology during the first quarter valued at $22,458,000. Calamos Advisors LLC purchased a new position in Silicon Motion Technology during the first quarter valued at $2,686,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Silicon Motion Technology during the first quarter valued at $496,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Stock Up 4.0%

Silicon Motion Technology stock opened at $222.30 on Thursday. The company has a market capitalization of $7.54 billion, a P/E ratio of 26.06, a PEG ratio of 0.38 and a beta of 1.69. The stock’s 50 day moving average is $256.16 and its 200 day moving average is $251.19. Silicon Motion Technology Corporation has a twelve month low of $79.76 and a twelve month high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Wednesday, July 29th. The semiconductor producer reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.30. The company had revenue of $451.00 million during the quarter, compared to analyst estimates of $403.41 million. Silicon Motion Technology had a return on equity of 32.04% and a net margin of 22.06%. The firm’s revenue for the quarter was up 127.0% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. As a group, equities analysts expect that Silicon Motion Technology Corporation will post 10.60 EPS for the current year.

Silicon Motion Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be paid a $0.5750 dividend. This is an increase from Silicon Motion Technology’s previous quarterly dividend of $0.50. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 5th. Silicon Motion Technology’s payout ratio is currently 26.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Craig Hallum restated a “buy” rating and set a $325.00 target price on shares of Silicon Motion Technology in a report on Friday, July 31st. B. Riley Financial increased their price target on shares of Silicon Motion Technology from $312.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Needham & Company LLC increased their price target on shares of Silicon Motion Technology from $240.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings cut shares of Silicon Motion Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 16th. Finally, Wall Street Zen lowered shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Silicon Motion Technology presently has an average rating of “Moderate Buy” and a consensus target price of $341.43.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs, develops and markets NAND flash storage controllers. Its products manage the storage, performance, reliability and power consumption of data stored in NAND flash memory and are used in a range of consumer, mobile, computing and industrial applications.

The company’s product portfolio includes controllers for solid-state drives (SSDs), embedded storage products such as eMMC and UFS devices, and other flash-based storage solutions.