Silicon Motion Technology Co. (NASDAQ:SIMO) Shares Sold by HHM Wealth Advisors LLC

HHM Wealth Advisors LLC lessened its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,240 shares of the semiconductor producer’s stock after selling 200 shares during the period. HHM Wealth Advisors LLC’s holdings in Silicon Motion Technology were worth $67,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in Silicon Motion Technology by 27.7% in the 3rd quarter. FMR LLC now owns 2,239,574 shares of the semiconductor producer’s stock valued at $136,032,000 after purchasing an additional 485,862 shares in the last quarter. Reinhart Partners LLC. boosted its stake in shares of Silicon Motion Technology by 5.1% in the fourth quarter. Reinhart Partners LLC. now owns 1,135,738 shares of the semiconductor producer’s stock valued at $61,387,000 after buying an additional 55,363 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Silicon Motion Technology by 21.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer’s stock worth $67,051,000 after acquiring an additional 196,609 shares during the period. Erste Asset Management GmbH purchased a new position in Silicon Motion Technology in the third quarter worth $40,331,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Silicon Motion Technology by 36.4% in the third quarter. The Manufacturers Life Insurance Company now owns 570,816 shares of the semiconductor producer’s stock valued at $34,671,000 after acquiring an additional 152,467 shares during the period. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Performance

Silicon Motion Technology stock opened at $51.92 on Tuesday. Silicon Motion Technology Co. has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.30 and a beta of 0.79. The stock has a fifty day moving average of $54.54 and a two-hundred day moving average of $57.97.

Silicon Motion Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio is presently 75.38%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SIMO. Craig Hallum cut their price target on shares of Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Needham & Company LLC dropped their target price on shares of Silicon Motion Technology from $94.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a research note on Monday, December 23rd. Finally, Susquehanna reduced their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Silicon Motion Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

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.