Skylands Capital LLC Has $4.14 Million Stock Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Skylands Capital LLC lessened its holdings in Silicon Motion Technology Co. (NASDAQ:SIMO) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,550 shares of the semiconductor producer’s stock after selling 18,400 shares during the period. Skylands Capital LLC’s holdings in Silicon Motion Technology were worth $4,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SIMO. Advisors Asset Management Inc. raised its holdings in Silicon Motion Technology by 129.4% during the third quarter. Advisors Asset Management Inc. now owns 445 shares of the semiconductor producer’s stock valued at $27,000 after buying an additional 251 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Silicon Motion Technology by 123.2% in the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock worth $47,000 after purchasing an additional 484 shares during the period. Blue Trust Inc. grew its position in Silicon Motion Technology by 139.5% during the third quarter. Blue Trust Inc. now owns 1,365 shares of the semiconductor producer’s stock worth $83,000 after buying an additional 795 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Silicon Motion Technology during the third quarter worth about $151,000. Finally, Choreo LLC acquired a new stake in Silicon Motion Technology during the fourth quarter worth about $209,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

SIMO stock opened at $58.80 on Monday. The company has a 50 day moving average price of $54.65 and a 200 day moving average price of $56.67. Silicon Motion Technology Co. has a fifty-two week low of $48.81 and a fifty-two week high of $85.87. The stock has a market capitalization of $1.98 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.36 and a beta of 0.79.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. As a group, equities analysts expect that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.

Silicon Motion Technology declared that its board has approved a share buyback program on Wednesday, February 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the semiconductor producer to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Silicon Motion Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, February 13th. Silicon Motion Technology’s payout ratio is presently 74.35%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SIMO shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Monday, December 23rd. Susquehanna decreased their price objective on Silicon Motion Technology from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Silicon Motion Technology in a report on Friday, February 7th. Craig Hallum decreased their price objective on Silicon Motion Technology from $96.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com downgraded Silicon Motion Technology from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.63.

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.