North Star Investment Management Corp. Makes New Investment in Silicon Motion Technology Corporation (NASDAQ:SIMO)

North Star Investment Management Corp. acquired a new position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,400 shares of the semiconductor producer's stock, valued at approximately $273,000.

Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of Silicon Motion Technology by 61.8% during the 1st quarter. Parallel Advisors LLC now owns 1,152 shares of the semiconductor producer's stock valued at $58,000 after acquiring an additional 440 shares in the last quarter. Menard Financial Group LLC purchased a new position in Silicon Motion Technology in the fourth quarter valued at about $88,000. LRI Investments LLC lifted its stake in shares of Silicon Motion Technology by 519.0% during the fourth quarter. LRI Investments LLC now owns 3,033 shares of the semiconductor producer's stock worth $164,000 after purchasing an additional 2,543 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Silicon Motion Technology by 66.8% during the first quarter. Farther Finance Advisors LLC now owns 3,819 shares of the semiconductor producer's stock worth $195,000 after purchasing an additional 1,529 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of Silicon Motion Technology in the fourth quarter worth about $209,000. Institutional investors and hedge funds own 78.02% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SIMO shares. Wedbush reiterated an "outperform" rating and set a $90.00 target price on shares of Silicon Motion Technology in a report on Wednesday, April 30th. B. Riley reaffirmed a "buy" rating and issued a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research report on Thursday, June 5th. 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 research note on Wednesday. Roth Capital upped their target price on shares of Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Needham & Company LLC lowered their price target on shares of Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.89.

Silicon Motion Technology Price Performance

SIMO traded up $3.08 during trading on Thursday, hitting $71.49. The company had a trading volume of 456,904 shares, compared to its average volume of 384,343. Silicon Motion Technology Corporation has a 1-year low of $37.21 and a 1-year high of $85.87. The company has a market cap of $2.43 billion, a PE ratio of 25.62, a P/E/G ratio of 1.65 and a beta of 0.80. The business has a 50-day moving average of $56.09 and a 200-day moving average of $54.46.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. The business had revenue of $166.49 million for the quarter, compared to analyst estimates of $162.69 million. Silicon Motion Technology had a net margin of 12.06% and a return on equity of 12.00%. The company's revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. Research analysts forecast that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current year.

Silicon Motion Technology 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.