Clearline Capital LP Has $11.47 Million Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Clearline Capital LP grew its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 30.8% during the third quarter, Holdings Channel.com reports. The firm owned 188,842 shares of the semiconductor producer’s stock after acquiring an additional 44,473 shares during the quarter. Clearline Capital LP’s holdings in Silicon Motion Technology were worth $11,470,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its stake in Silicon Motion Technology by 273.6% in the second quarter. Harbor Capital Advisors Inc. now owns 65,566 shares of the semiconductor producer’s stock valued at $5,310,000 after purchasing an additional 48,015 shares in the last quarter. Naples Global Advisors LLC raised its position in shares of Silicon Motion Technology by 3.1% in the second quarter. Naples Global Advisors LLC now owns 17,410 shares of the semiconductor producer’s stock valued at $1,410,000 after purchasing an additional 525 shares during the period. Reinhart Partners LLC. lifted its stake in shares of Silicon Motion Technology by 2.4% during the 2nd quarter. Reinhart Partners LLC. now owns 754,017 shares of the semiconductor producer’s stock worth $61,068,000 after buying an additional 17,646 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Silicon Motion Technology by 3,971.4% during the 2nd quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 556 shares during the period. Finally, LRI Investments LLC grew its stake in Silicon Motion Technology by 100.1% in the 2nd quarter. LRI Investments LLC now owns 3,987 shares of the semiconductor producer’s stock valued at $323,000 after buying an additional 1,994 shares during the last quarter. Institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Trading Up 1.2 %

Shares of Silicon Motion Technology stock opened at $53.07 on Monday. The company has a 50 day moving average of $56.13 and a 200-day moving average of $66.14. The company has a market cap of $1.79 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.44 and a beta of 0.84. Silicon Motion Technology Co. has a 1-year low of $50.50 and a 1-year high of $85.87.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Wednesday, October 30th. The semiconductor producer reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. Silicon Motion Technology had a return on equity of 11.52% and a net margin of 10.90%. The firm had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.49 million. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue was up 23.3% compared to the same quarter last year. Research analysts forecast that Silicon Motion Technology Co. will post 2.59 earnings per share for the current year.

Silicon Motion Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.50 dividend. The ex-dividend date was Thursday, November 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.77%. Silicon Motion Technology’s payout ratio is currently 75.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Roth Mkm reduced their price objective on Silicon Motion Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. StockNews.com downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Monday, November 4th. B. Riley decreased their price target on shares of Silicon Motion Technology from $112.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Needham & Company LLC dropped their price objective on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.67.

About Silicon Motion Technology

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.