1,054 Shares in Silicon Motion Technology Co. (NASDAQ:SIMO) Acquired by CVA Family Office LLC

CVA Family Office LLC bought a new stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,054 shares of the semiconductor producer’s stock, valued at approximately $65,000.

Several other institutional investors have also added to or reduced their stakes in the business. 1832 Asset Management L.P. purchased a new position in shares of Silicon Motion Technology during the 4th quarter valued at about $26,000. Signaturefd LLC lifted its holdings in Silicon Motion Technology by 183.5% during the third quarter. Signaturefd LLC now owns 686 shares of the semiconductor producer’s stock valued at $35,000 after purchasing an additional 444 shares in the last quarter. Quarry LP purchased a new position in Silicon Motion Technology during the second quarter valued at approximately $36,000. Barclays PLC bought a new position in shares of Silicon Motion Technology in the fourth quarter worth approximately $39,000. Finally, Assetmark Inc. bought a new position in Silicon Motion Technology in the 3rd quarter worth approximately $51,000. 78.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price objective on shares of Silicon Motion Technology in a research report on Monday, January 8th. Craig Hallum boosted their price target on shares of Silicon Motion Technology from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. B. Riley restated a “buy” rating and set a $93.00 price objective (up previously from $90.00) on shares of Silicon Motion Technology in a research report on Friday, March 15th. Wedbush restated an “outperform” rating and issued a $85.00 price target on shares of Silicon Motion Technology in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Silicon Motion Technology from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Silicon Motion Technology Stock Up 0.7 %

Shares of Silicon Motion Technology stock opened at $76.30 on Thursday. Silicon Motion Technology Co. has a 52 week low of $49.50 and a 52 week high of $95.33. The company has a market capitalization of $2.52 billion, a PE ratio of 48.29, a price-to-earnings-growth ratio of 4.13 and a beta of 0.84. The stock’s fifty day moving average is $69.20 and its two-hundred day moving average is $61.39.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor producer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. Silicon Motion Technology had a net margin of 8.27% and a return on equity of 7.01%. The firm had revenue of $202.38 million for the quarter, compared to analysts’ expectations of $197.60 million. As a group, research analysts anticipate that Silicon Motion Technology Co. will post 2.62 earnings per share for the current year.

Silicon Motion Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were issued a $0.50 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.62%. Silicon Motion Technology’s payout ratio is 125.95%.

Silicon Motion Technology 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.