Easterly Investment Partners LLC boosted its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,556 shares of the semiconductor producer's stock after buying an additional 3,625 shares during the quarter. Easterly Investment Partners LLC owned 0.62% of Silicon Motion Technology worth $10,545,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in Silicon Motion Technology by 66.8% in the first quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer's stock worth $195,000 after buying an additional 1,529 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Silicon Motion Technology by 16.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,692 shares of the semiconductor producer's stock worth $288,000 after acquiring an additional 785 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Silicon Motion Technology by 7.1% during the 4th quarter. Sei Investments Co. now owns 58,823 shares of the semiconductor producer's stock worth $3,179,000 after purchasing an additional 3,875 shares during the last quarter. Pertento Partners LLP boosted its position in Silicon Motion Technology by 31.2% during the fourth quarter. Pertento Partners LLP now owns 1,166,914 shares of the semiconductor producer's stock valued at $63,072,000 after purchasing an additional 277,462 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Silicon Motion Technology by 62.6% in the fourth quarter. First Trust Advisors LP now owns 62,117 shares of the semiconductor producer's stock valued at $3,357,000 after purchasing an additional 23,921 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SIMO. Roth Capital upped their price target on Silicon Motion Technology from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Citigroup upgraded Silicon Motion Technology to a "buy" rating in a research note on Wednesday, June 18th. Bank of America upgraded shares of Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a report on Wednesday, June 18th. B. Riley restated a "buy" rating and set a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a report on Thursday, June 5th. Finally, Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.89.
View Our Latest Stock Report on Silicon Motion Technology
Silicon Motion Technology Trading Up 2.6%
SIMO stock traded up $1.82 during trading on Thursday, hitting $73.16. 148,089 shares of the company's stock were exchanged, compared to its average volume of 385,429. The business has a 50-day moving average price of $67.89 and a two-hundred day moving average price of $56.88. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 11.53 and a beta of 0.85. Silicon Motion Technology Corporation has a 52-week low of $37.21 and a 52-week high of $77.39.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. The company had revenue of $166.49 million during the quarter, compared to analysts' expectations of $162.69 million. Silicon Motion Technology had a return on equity of 12.00% and a net margin of 12.06%. The firm's revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities research analysts anticipate that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current fiscal year.
About Silicon Motion Technology
(
Free Report)
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.
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