Stifel Financial Corp Purchases 10,658 Shares of Silicon Motion Technology Corporation (SIMO)
Stifel Financial Corp increased its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,433 shares of the semiconductor producer’s stock after purchasing an additional 10,658 shares during the period. Stifel Financial Corp owned approximately 0.40% of Silicon Motion Technology worth $6,797,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Daiwa Securities Group Inc. bought a new position in Silicon Motion Technology during the 3rd quarter valued at $101,000. Advisors Preferred LLC lifted its stake in Silicon Motion Technology by 451.0% during the 3rd quarter. Advisors Preferred LLC now owns 2,667 shares of the semiconductor producer’s stock valued at $128,000 after acquiring an additional 2,183 shares in the last quarter. Seven Eight Capital LP bought a new position in Silicon Motion Technology during the 2nd quarter valued at $135,000. Hikari Power Ltd bought a new position in Silicon Motion Technology during the 2nd quarter valued at $204,000. Finally, Airain ltd bought a new position in Silicon Motion Technology during the 2nd quarter valued at $213,000. Institutional investors own 82.84% of the company’s stock.
Several equities analysts have weighed in on the company. ValuEngine upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Silicon Motion Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. B. Riley set a $69.00 price objective on Silicon Motion Technology and gave the company a “buy” rating in a research note on Wednesday, October 25th. Summit Redstone upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, BidaskClub raised Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Silicon Motion Technology presently has a consensus rating of “Buy” and an average target price of $57.67.
Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. Silicon Motion Technology had a return on equity of 19.58% and a net margin of 17.18%. The firm had revenue of $127.20 million during the quarter, compared to analyst estimates of $127.24 million. During the same period last year, the firm posted $1.07 EPS. The business’s revenue was down 19.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Thursday, November 9th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 8th. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 2.30%. Silicon Motion Technology’s dividend payout ratio (DPR) is currently 35.04%.
TRADEMARK VIOLATION NOTICE: “Stifel Financial Corp Purchases 10,658 Shares of Silicon Motion Technology Corporation (SIMO)” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/stifel-financial-corp-purchases-10658-shares-of-silicon-motion-technology-corporation-simo/1762978.html.
Silicon Motion Technology Profile
Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.
Want to see what other hedge funds are holding SIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Motion Technology Corporation (NASDAQ:SIMO).
Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter.