Goldman Sachs Group Inc. Has $531,000 Holdings in Silicon Motion Technology Corporation (SIMO)

Goldman Sachs Group Inc. lessened its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 97.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,010 shares of the semiconductor producer’s stock after selling 396,400 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Silicon Motion Technology Corporation were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Great Lakes Advisors LLC boosted its stake in shares of Silicon Motion Technology Corporation by 3.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 6,959 shares of the semiconductor producer’s stock worth $336,000 after acquiring an additional 206 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Silicon Motion Technology Corporation by 5.2% during the 2nd quarter. Profund Advisors LLC now owns 11,424 shares of the semiconductor producer’s stock worth $551,000 after acquiring an additional 560 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Silicon Motion Technology Corporation by 1.2% during the 2nd quarter. Wells Fargo & Company MN now owns 58,659 shares of the semiconductor producer’s stock worth $2,829,000 after acquiring an additional 701 shares in the last quarter. Suffolk Capital Management LLC boosted its stake in shares of Silicon Motion Technology Corporation by 3.5% during the 2nd quarter. Suffolk Capital Management LLC now owns 31,506 shares of the semiconductor producer’s stock worth $1,520,000 after acquiring an additional 1,053 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Silicon Motion Technology Corporation by 5.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 21,157 shares of the semiconductor producer’s stock worth $1,020,000 after acquiring an additional 1,119 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.

Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) opened at $47.17 on Monday. Silicon Motion Technology Corporation has a 52 week low of $37.37 and a 52 week high of $55.68. The stock has a market capitalization of $1,666.42, a P/E ratio of 17.93 and a beta of 0.64.

Silicon Motion Technology Corporation (NASDAQ:SIMO) last posted its earnings results on Friday, October 27th. The semiconductor producer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Silicon Motion Technology Corporation had a return on equity of 19.58% and a net margin of 17.18%. The firm had revenue of $127.20 million for the quarter, compared to analyst estimates of $127.24 million. During the same quarter in the prior year, the company earned $1.07 EPS. Silicon Motion Technology Corporation’s revenue was down 19.8% on a year-over-year basis. analysts predict that Silicon Motion Technology Corporation will post 2.46 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 9th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Silicon Motion Technology Corporation’s previous quarterly dividend of $0.20. Silicon Motion Technology Corporation’s dividend payout ratio is presently 35.04%.

Silicon Motion Technology Corporation declared that its Board of Directors has authorized a stock buyback plan on Monday, July 31st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the semiconductor producer to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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SIMO has been the topic of several research analyst reports. B. Riley set a $69.00 price target on Silicon Motion Technology Corporation and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $57.00 price target on shares of Silicon Motion Technology Corporation in a research note on Friday, October 27th. Zacks Investment Research raised Silicon Motion Technology Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Loop Capital boosted their price target on Silicon Motion Technology Corporation from $51.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Finally, Standpoint Research raised Silicon Motion Technology Corporation from a “reduce” rating to a “buy” rating in a research note on Wednesday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Silicon Motion Technology Corporation presently has an average rating of “Buy” and an average target price of $57.67.

About Silicon Motion Technology Corporation

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.

Institutional Ownership by Quarter for Silicon Motion Technology Corporation (NASDAQ:SIMO)

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