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.
Shares of Silicon Motion Technology Corporation (NASDAQ SIMO) opened at $52.24 on Thursday. Silicon Motion Technology Corporation has a 12-month low of $37.37 and a 12-month high of $55.68. The stock has a market capitalization of $1,867.08, a price-to-earnings ratio of 20.09 and a beta of 0.64.
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%.
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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.
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