Robeco Institutional Asset Management B.V. Acquires 11,328 Shares of Silicon Motion Technology Corporation (NASDAQ:SIMO)

Robeco Institutional Asset Management B.V. grew its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 263,266 shares of the semiconductor producer's stock after purchasing an additional 11,328 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.78% of Silicon Motion Technology worth $13,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Capital Management LLC acquired a new stake in Silicon Motion Technology during the fourth quarter worth approximately $15,006,000. Pertento Partners LLP increased its stake in shares of Silicon Motion Technology by 31.2% in the 4th quarter. Pertento Partners LLP now owns 1,166,914 shares of the semiconductor producer's stock valued at $63,072,000 after acquiring an additional 277,462 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of Silicon Motion Technology by 20.1% during the 1st quarter. Reinhart Partners LLC. now owns 1,364,291 shares of the semiconductor producer's stock valued at $68,979,000 after acquiring an additional 228,553 shares during the period. Wellington Management Group LLP boosted its stake in Silicon Motion Technology by 40.1% during the fourth quarter. Wellington Management Group LLP now owns 797,192 shares of the semiconductor producer's stock worth $43,088,000 after acquiring an additional 228,333 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in 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 worth $71,612,000 after purchasing an additional 221,017 shares during the period. Institutional investors and hedge funds own 78.02% of the company's stock.

Silicon Motion Technology Stock Down 0.7%

NASDAQ SIMO traded down $0.51 on Wednesday, reaching $73.79. The company had a trading volume of 195,018 shares, compared to its average volume of 385,198. The company's fifty day moving average is $61.97 and its 200 day moving average is $55.45. Silicon Motion Technology Corporation has a 52-week low of $37.21 and a 52-week high of $85.00. The stock has a market capitalization of $2.51 billion, a P/E ratio of 26.45, a P/E/G ratio of 12.15 and a beta of 0.85.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, April 30th. Citigroup raised Silicon Motion Technology to a "buy" rating in a research note on Wednesday, June 18th. Bank of America raised Silicon Motion Technology from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Wednesday, June 18th. Roth Capital upped their target price 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. Finally, Needham & Company LLC reduced 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 research report on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.89.

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.