Pertento Partners LLP Grows Holdings in Silicon Motion Technology Co. (NASDAQ:SIMO)

Pertento Partners LLP grew its stake in Silicon Motion Technology Co. (NASDAQ:SIMO) by 31.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,166,914 shares of the semiconductor producer’s stock after purchasing an additional 277,462 shares during the quarter. Silicon Motion Technology comprises about 5.3% of Pertento Partners LLP’s holdings, making the stock its 4th biggest holding. Pertento Partners LLP owned about 3.46% of Silicon Motion Technology worth $63,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its position 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 during the period. GAMMA Investing LLC increased its position in Silicon Motion Technology by 123.2% during the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after buying an additional 484 shares in the last quarter. Blue Trust Inc. raised its position in shares of Silicon Motion Technology by 64.7% in the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer’s stock worth $122,000 after purchasing an additional 883 shares during the last quarter. Virtu Financial LLC purchased a new stake in Silicon Motion Technology during the 4th quarter valued at about $208,000. Finally, Choreo LLC purchased a new position in Silicon Motion Technology in the fourth quarter worth about $209,000. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Price Performance

Silicon Motion Technology stock opened at $50.73 on Friday. Silicon Motion Technology Co. has a 1-year low of $48.81 and a 1-year high of $85.87. The company’s 50-day moving average is $54.33 and its 200 day moving average is $55.33. The firm has a market capitalization of $1.71 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.36 and a beta of 0.71.

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

Silicon Motion Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, February 13th. Silicon Motion Technology’s dividend payout ratio is presently 74.35%.

Silicon Motion Technology announced that its board has authorized a stock repurchase plan on Wednesday, February 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor producer to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Silicon Motion Technology in a report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Silicon Motion Technology in a research report on Friday, February 7th. Finally, StockNews.com cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.63.

Silicon Motion Technology Company 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.