Silicon Motion Technology Corporation (NASDAQ:SIMO) Short Interest Update

Silicon Motion Technology Corporation (NASDAQ:SIMO) saw a large growth in short interest in December. As of December 31st, there was short interest totaling 662,726 shares, a growth of 34.9% from the December 15th total of 491,338 shares. Based on an average daily volume of 239,479 shares, the short-interest ratio is currently 2.8 days. Approximately 2.1% of the company’s shares are short sold. Approximately 2.1% of the company’s shares are short sold. Based on an average daily volume of 239,479 shares, the short-interest ratio is currently 2.8 days.

Silicon Motion Technology Trading Down 0.4%

Silicon Motion Technology stock traded down $0.51 during trading hours on Monday, hitting $112.87. 631,372 shares of the stock traded hands, compared to its average volume of 576,726. Silicon Motion Technology has a one year low of $37.21 and a one year high of $123.30. The company has a market cap of $3.84 billion, a PE ratio of 38.79, a PEG ratio of 1.25 and a beta of 1.05. The firm’s 50-day moving average price is $93.33 and its two-hundred day moving average price is $87.60.

Silicon Motion Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 6th. Silicon Motion Technology’s payout ratio is 68.38%.

Institutional Investors Weigh In On Silicon Motion Technology

Hedge funds have recently bought and sold shares of the business. Frontier Capital Management Co. LLC increased its stake in shares of Silicon Motion Technology by 115.4% during the second quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after purchasing an additional 686,261 shares in the last quarter. Ophir Asset Management Pty Ltd bought a new position in Silicon Motion Technology during the 2nd quarter valued at approximately $27,941,000. Boston Partners boosted its holdings in Silicon Motion Technology by 33.2% in the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after acquiring an additional 183,458 shares in the last quarter. Hawk Ridge Capital Management LP grew its stake in shares of Silicon Motion Technology by 71.8% in the third quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock worth $35,340,000 after acquiring an additional 155,817 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new position in shares of Silicon Motion Technology during the second quarter valued at $10,990,000. Institutional investors own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Zacks Research downgraded shares of Silicon Motion Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Silicon Motion Technology in a research note on Monday, December 29th. Roth Capital reaffirmed a “buy” rating and issued a $120.00 target price on shares of Silicon Motion Technology in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, B. Riley raised their price target on shares of Silicon Motion Technology from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Silicon Motion Technology currently has an average rating of “Moderate Buy” and a consensus target price of $113.13.

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.