Silicon Motion Technology Corporation $SIMO Shares Purchased by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC grew its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 115.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,281,115 shares of the semiconductor producer’s stock after buying an additional 686,261 shares during the period. Silicon Motion Technology accounts for 0.9% of Frontier Capital Management Co. LLC’s investment portfolio, making the stock its 14th biggest position. Frontier Capital Management Co. LLC owned approximately 3.77% of Silicon Motion Technology worth $96,301,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. National Bank of Canada FI raised its stake in Silicon Motion Technology by 10,053.3% in the 1st quarter. National Bank of Canada FI now owns 76,150 shares of the semiconductor producer’s stock valued at $3,850,000 after purchasing an additional 75,400 shares during the last quarter. Invesco Ltd. raised its position in shares of Silicon Motion Technology by 61.3% in the first quarter. Invesco Ltd. now owns 1,675,648 shares of the semiconductor producer’s stock valued at $84,721,000 after buying an additional 636,869 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Silicon Motion Technology by 3.0% during the first quarter. Russell Investments Group Ltd. now owns 258,572 shares of the semiconductor producer’s stock valued at $13,088,000 after buying an additional 7,572 shares during the period. Boston Partners lifted its stake in shares of Silicon Motion Technology by 77.3% during the first quarter. Boston Partners now owns 552,139 shares of the semiconductor producer’s stock valued at $27,900,000 after buying an additional 240,737 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Silicon Motion Technology during the first quarter worth approximately $238,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $95.72 on Thursday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10. Silicon Motion Technology Corporation has a 12 month low of $37.21 and a 12 month high of $106.60. The stock’s 50-day moving average is $92.38 and its 200-day moving average is $81.97.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 6th. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 68.38%.

Analyst Ratings Changes

Several analysts have commented on SIMO shares. Zacks Research cut shares of Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Roth Capital reiterated a “buy” rating and issued a $120.00 target price on shares of Silicon Motion Technology in a research note on Friday, October 31st. B. Riley raised their price target on Silicon Motion Technology from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Silicon Motion Technology in a research note on Monday, November 3rd. Finally, Susquehanna raised their target price on shares of Silicon Motion Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.25.

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.