Silicon Motion Technology Corporation $SIMO Stake Lowered by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC cut its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 50.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,740 shares of the semiconductor producer’s stock after selling 9,860 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Silicon Motion Technology were worth $2,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hawk Ridge Capital Management LP boosted its position in Silicon Motion Technology by 48.9% during the first quarter. Hawk Ridge Capital Management LP now owns 1,173,315 shares of the semiconductor producer’s stock valued at $131,752,000 after purchasing an additional 385,568 shares during the last quarter. Lazard Asset Management LLC increased its position in Silicon Motion Technology by 3.1% in the 1st quarter. Lazard Asset Management LLC now owns 781,981 shares of the semiconductor producer’s stock worth $87,809,000 after purchasing an additional 23,403 shares during the last quarter. Bahl & Gaynor LLC increased its position in Silicon Motion Technology by 19.5% in the 3rd quarter. Bahl & Gaynor LLC now owns 541,907 shares of the semiconductor producer’s stock worth $151,734,000 after purchasing an additional 88,600 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Silicon Motion Technology by 112.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock worth $47,802,000 after purchasing an additional 225,221 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. raised its stake in shares of Silicon Motion Technology by 48.6% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 401,300 shares of the semiconductor producer’s stock worth $112,364,000 after purchasing an additional 131,300 shares in the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SIMO. Susquehanna boosted their price target on Silicon Motion Technology from $275.00 to $350.00 and gave the company a “positive” rating in a research note on Friday, July 31st. Wall Street Zen downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. B. Riley Financial cut their price objective on shares of Silicon Motion Technology from $310.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday. Needham & Company LLC boosted their target price on shares of Silicon Motion Technology from $240.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings downgraded shares of Silicon Motion Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 16th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $328.75.

Silicon Motion Technology Stock Up 8.7%

SIMO opened at $183.65 on Thursday. Silicon Motion Technology Corporation has a 1-year low of $79.76 and a 1-year high of $355.00. The company has a current ratio of 5.68, a quick ratio of 3.65 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 0.30 and a beta of 1.78. The business has a 50 day moving average of $237.33 and a 200-day moving average of $216.06.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Wednesday, October 28th. The semiconductor producer reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $1.05. The business had revenue of $560.22 million for the quarter, compared to analyst estimates of $529.10 million. Silicon Motion Technology had a net margin of 19.36% and a return on equity of 32.29%. Silicon Motion Technology’s revenue was up 131.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. As a group, sell-side analysts anticipate that Silicon Motion Technology Corporation will post 10.20 earnings per share for the current year.

Silicon Motion Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a $0.5750 dividend. The ex-dividend date is Thursday, November 5th. This represents a $2.30 annualized dividend and a yield of 1.3%. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.50. Silicon Motion Technology’s dividend payout ratio (DPR) is 24.78%.

Silicon Motion Technology Profile

Silicon Motion Technology Corporation is a fabless semiconductor company that designs and markets NAND flash controllers and related storage solutions. Its products help manage data storage and retrieval in devices that use NAND flash memory. The company’s offerings include controllers for solid-state drives (SSDs), embedded storage such as eMMC and UFS, and removable storage products including memory cards and USB flash drives. Silicon Motion also develops firmware and other technologies for storage applications.