Macquarie Group Ltd. Has $18.14 Million Stock Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Macquarie Group Ltd. cut its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 282,957 shares of the semiconductor producer’s stock after selling 16,148 shares during the quarter. Macquarie Group Ltd.’s holdings in Silicon Motion Technology were worth $18,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SIMO. Lord Abbett & CO. LLC grew its position in Silicon Motion Technology by 512.8% during the second quarter. Lord Abbett & CO. LLC now owns 1,154,766 shares of the semiconductor producer’s stock worth $74,021,000 after buying an additional 966,323 shares in the last quarter. Man Group plc acquired a new stake in Silicon Motion Technology during the first quarter worth about $33,673,000. Millennium Management LLC grew its position in Silicon Motion Technology by 87.5% during the first quarter. Millennium Management LLC now owns 523,814 shares of the semiconductor producer’s stock worth $31,109,000 after buying an additional 244,399 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Silicon Motion Technology by 443.5% during the first quarter. Point72 Asset Management L.P. now owns 255,438 shares of the semiconductor producer’s stock valued at $15,170,000 after purchasing an additional 208,438 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Silicon Motion Technology by 17.7% during the first quarter. Lazard Asset Management LLC now owns 1,340,720 shares of the semiconductor producer’s stock valued at $79,624,000 after purchasing an additional 201,309 shares in the last quarter. 74.04% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on SIMO. B. Riley lifted their price objective on Silicon Motion Technology from $94.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Craig Hallum lifted their price objective on Silicon Motion Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Morgan Stanley raised Silicon Motion Technology from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $68.00 to $78.00 in a report on Thursday, August 12th. Needham & Company LLC lifted their price objective on Silicon Motion Technology from $100.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Finally, Zacks Investment Research cut shares of Silicon Motion Technology from a “strong-buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Wednesday, September 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $98.29.

Silicon Motion Technology stock opened at $71.76 on Thursday. The company’s 50-day moving average price is $72.29 and its two-hundred day moving average price is $68.18. Silicon Motion Technology Co. has a twelve month low of $35.16 and a twelve month high of $81.87. The stock has a market cap of $2.51 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.76 and a beta of 1.11.

Silicon Motion Technology (NASDAQ:SIMO) last announced its earnings results on Thursday, July 29th. The semiconductor producer reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.11. Silicon Motion Technology had a net margin of 16.27% and a return on equity of 18.30%. The firm had revenue of $221.10 million for the quarter, compared to analyst estimates of $203.95 million. As a group, equities analysts forecast that Silicon Motion Technology Co. will post 5.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 24th. Shareholders of record on Wednesday, November 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Tuesday, November 9th. This is a positive change from Silicon Motion Technology’s previous quarterly dividend of $0.35. Silicon Motion Technology’s dividend payout ratio is presently 60.96%.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corp. engages in the development, manufacture and supply of semiconductor products for the electronics market. The firm products include Flash Controllers, Storage Solutions, and others. It offers embedded and expandable storage, radio frequency integrated circuits and embedded graphics.

Further Reading: Forex

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Institutional Ownership by Quarter for Silicon Motion Technology (NASDAQ:SIMO)

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