Silicon Motion Technology Co. (NASDAQ:SIMO) Stock Position Raised by Reinhart Partners LLC.

Reinhart Partners LLC. increased its position in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 20.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,364,291 shares of the semiconductor producer's stock after purchasing an additional 228,553 shares during the period. Silicon Motion Technology makes up approximately 2.5% of Reinhart Partners LLC.'s portfolio, making the stock its 18th largest position. Reinhart Partners LLC. owned about 4.05% of Silicon Motion Technology worth $68,979,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SIMO. SG Capital Management LLC purchased a new position in Silicon Motion Technology in the fourth quarter valued at about $15,006,000. Pertento Partners LLP grew its position in shares of Silicon Motion Technology by 31.2% in 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 during the last quarter. Wellington Management Group LLP grew its position in shares of Silicon Motion Technology by 40.1% in the fourth quarter. Wellington Management Group LLP now owns 797,192 shares of the semiconductor producer's stock valued at $43,088,000 after purchasing an additional 228,333 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of Silicon Motion Technology by 20.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,324,930 shares of the semiconductor producer's stock valued at $71,612,000 after purchasing an additional 221,017 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Silicon Motion Technology by 22.8% in the fourth quarter. Invesco Ltd. now owns 1,038,779 shares of the semiconductor producer's stock valued at $56,146,000 after purchasing an additional 192,646 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SIMO has been the topic of several research reports. Wedbush reiterated an "outperform" rating and issued a $90.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 30th. B. Riley reiterated a "buy" rating and issued a $90.00 price target (up from $75.00) on shares of Silicon Motion Technology in a research report on Thursday. Bank of America upgraded shares of Silicon Motion Technology from an "underperform" rating to a "neutral" rating and set a $47.00 price target on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC decreased their target price on shares of Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $77.75.

Silicon Motion Technology Trading Up 0.3%

SIMO stock traded up $0.21 during trading on Monday, reaching $67.29. The stock had a trading volume of 343,233 shares, compared to its average volume of 389,048. Silicon Motion Technology Co. has a 1-year low of $37.21 and a 1-year high of $85.87. The company has a market capitalization of $2.29 billion, a P/E ratio of 25.01, a PEG ratio of 1.36 and a beta of 0.80. The firm has a fifty day moving average price of $52.32 and a 200 day moving average price of $53.75.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last released its earnings results on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. The company had revenue of $166.49 million during the quarter, compared to the consensus estimate of $162.69 million. Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.63%. The company's revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Sell-side analysts predict that Silicon Motion Technology Co. will post 3.08 EPS for the current year.

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.