GAMMA Investing LLC Has $1.14 Million Holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO)

GAMMA Investing LLC boosted its stake in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 2,477.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,600 shares of the semiconductor producer's stock after acquiring an additional 21,723 shares during the period. GAMMA Investing LLC owned 0.07% of Silicon Motion Technology worth $1,143,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Silicon Motion Technology by 8.7% in the fourth quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer's stock worth $306,000 after purchasing an additional 453 shares during the last quarter. Choreo LLC bought a new stake in Silicon Motion Technology during the 4th quarter valued at $209,000. 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 holdings in 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 worth $63,072,000 after acquiring an additional 277,462 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Silicon Motion Technology by 62.6% in the 4th quarter. First Trust Advisors LP now owns 62,117 shares of the semiconductor producer's stock worth $3,357,000 after buying an additional 23,921 shares during the period. Institutional investors own 78.02% of the company's stock.

Analyst Upgrades and Downgrades

SIMO has been the subject of several research analyst reports. Bank of America raised Silicon Motion Technology from an "underperform" rating to a "neutral" rating and set a $47.00 target price for the company in a research note on Wednesday, April 23rd. B. Riley reissued a "buy" rating and issued a $90.00 target price (up previously from $75.00) on shares of Silicon Motion Technology in a report on Thursday, June 5th. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 30th. Needham & Company LLC lowered 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 report on Wednesday, April 30th. Finally, Roth Capital upped their target price on Silicon Motion Technology from $70.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $79.11.

Silicon Motion Technology Stock Down 2.0%

Shares of SIMO stock traded down $1.39 on Tuesday, reaching $68.41. 321,980 shares of the stock were exchanged, compared to its average volume of 385,027. Silicon Motion Technology Corporation has a 1-year low of $37.21 and a 1-year high of $85.87. The stock has a market cap of $2.32 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.69 and a beta of 0.80. The firm has a 50 day moving average of $55.51 and a two-hundred day moving average of $54.34.

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 the consensus estimate of $0.44 by $0.16. The firm had revenue of $166.49 million for the quarter, compared to the consensus estimate of $162.69 million. Silicon Motion Technology had a net margin of 12.06% and a return on equity of 12.00%. Silicon Motion Technology's quarterly revenue was down 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. On average, equities research analysts predict that Silicon Motion Technology Corporation will post 3.08 EPS for the current fiscal 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.