Silicon Motion Technology Corporation (NASDAQ:SIMO – Get Free Report) announced a quarterly dividend on Monday, October 27th. Investors of record on Thursday, August 6th will be paid a dividend of 0.50 per share by the semiconductor producer on Thursday, August 20th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, August 6th.
Silicon Motion Technology has raised its dividend payment by an average of 0.1%annually over the last three years. Silicon Motion Technology has a dividend payout ratio of 45.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Silicon Motion Technology to earn $11.61 per share next year, which means the company should continue to be able to cover its $1.99 annual dividend with an expected future payout ratio of 17.1%.
Silicon Motion Technology Stock Down 0.8%
NASDAQ SIMO opened at $251.52 on Tuesday. The stock’s 50-day simple moving average is $288.37 and its two-hundred day simple moving average is $198.19. Silicon Motion Technology has a twelve month low of $71.35 and a twelve month high of $355.00. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 0.53 and a beta of 1.71.
Insider Activity at Silicon Motion Technology
In other Silicon Motion Technology news, Director Han-Ping Shieh sold 1,000 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $328.00, for a total transaction of $328,000.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at approximately $2,460,000. The trade was a 11.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kuan-Ming Lin sold 2,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $305.00, for a total value of $610,000.00. Following the completion of the transaction, the director directly owned 8,500 shares in the company, valued at approximately $2,592,500. This represents a 19.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,000 shares of company stock worth $1,239,250. Insiders own 5.34% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in SIMO. Wolf Hill Capital Management LP acquired a new position in shares of Silicon Motion Technology in the fourth quarter worth about $53,893,000. Hawk Ridge Capital Management LP raised its holdings in Silicon Motion Technology by 111.3% in the 4th quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer’s stock worth $73,024,000 after purchasing an additional 415,000 shares during the period. Man Group plc raised its holdings in Silicon Motion Technology by 820.7% in the 4th quarter. Man Group plc now owns 381,048 shares of the semiconductor producer’s stock worth $35,323,000 after purchasing an additional 339,663 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Silicon Motion Technology by 112.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock worth $47,802,000 after purchasing an additional 225,221 shares in the last quarter. Finally, AIGH Capital Management LLC purchased a new position in Silicon Motion Technology during the first quarter worth approximately $22,458,000. 78.02% of the stock is owned by hedge funds and other institutional investors.
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.
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