Silicon Motion Technology Corp. (NASDAQ:SIMO) saw unusually large options trading on Tuesday. Stock traders bought 1,065 put options on the stock. This represents an increase of 1,283% compared to the average volume of 77 put options.
Several research analysts have commented on SIMO shares. KeyCorp raised their price objective on Silicon Motion Technology from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, December 14th. Nomura downgraded Silicon Motion Technology from a “neutral” rating to a “reduce” rating and set a $45.00 price objective on the stock. in a report on Wednesday, January 10th. Summit Redstone upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. B. Riley restated a “buy” rating and set a $68.75 price objective on shares of Silicon Motion Technology in a report on Tuesday, January 16th. Finally, ValuEngine upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $56.56.
Large investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Motion Technology in the 3rd quarter valued at $101,000. Castleark Management LLC purchased a new position in shares of Silicon Motion Technology in the 4th quarter valued at $148,000. EP Wealth Advisors LLC purchased a new position in shares of Silicon Motion Technology in the 4th quarter valued at $233,000. Boothbay Fund Management LLC purchased a new position in shares of Silicon Motion Technology in the 3rd quarter valued at $251,000. Finally, Brown Advisory Inc. increased its holdings in shares of Silicon Motion Technology by 42.3% in the 3rd quarter. Brown Advisory Inc. now owns 10,559 shares of the semiconductor producer’s stock valued at $507,000 after acquiring an additional 3,140 shares during the period. Institutional investors and hedge funds own 85.87% of the company’s stock.
Silicon Motion Technology (SIMO) opened at $45.93 on Wednesday. Silicon Motion Technology has a fifty-two week low of $40.33 and a fifty-two week high of $56.51. The stock has a market capitalization of $1,613.78, a price-to-earnings ratio of 21.65 and a beta of 0.53.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 22nd. Stockholders of record on Thursday, August 9th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Silicon Motion Technology’s dividend payout ratio is presently 47.60%.
Silicon Motion Technology Company Profile
Silicon Motion Technology Corporation is a fabless semiconductor company. The Company designs, develops and markets low-power semiconductor solutions to original equipment manufacturers (OEMs) and other customers in the mobile storage and mobile communications markets. It is engaged in developing negative-AND (NAND) flash controller integrated circuits (ICs) for solid-state storage devices and specialty radio frequency (RF) ICs for mobile devices.