Skylands Capital LLC Has $3.64 Million Holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO)

Skylands Capital LLC lowered its position in Silicon Motion Technology Corporation (NASDAQ:SIMO - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,000 shares of the semiconductor producer's stock after selling 4,550 shares during the quarter. Skylands Capital LLC owned about 0.21% of Silicon Motion Technology worth $3,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SIMO. Quadrant Capital Group LLC increased its stake in shares of Silicon Motion Technology by 7.2% during the fourth quarter. Quadrant Capital Group LLC now owns 3,959 shares of the semiconductor producer's stock valued at $214,000 after acquiring an additional 267 shares during the period. Geode Capital Management LLC increased its stake in shares of Silicon Motion Technology by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 36,248 shares of the semiconductor producer's stock valued at $1,959,000 after acquiring an additional 300 shares during the period. Twinbeech Capital LP increased its stake in shares of Silicon Motion Technology by 4.2% during the fourth quarter. Twinbeech Capital LP now owns 10,773 shares of the semiconductor producer's stock valued at $582,000 after acquiring an additional 438 shares during the period. Parallel Advisors LLC increased its stake in shares of Silicon Motion Technology by 61.8% during the first 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 during the period. Finally, Rhumbline Advisers increased its stake in shares of Silicon Motion Technology by 8.7% during the fourth quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer's stock valued at $306,000 after acquiring an additional 453 shares during the period. Institutional investors and hedge funds own 78.02% of the company's stock.

Silicon Motion Technology Stock Up 3.6%

Silicon Motion Technology stock traded up $2.63 during mid-day trading on Friday, hitting $75.77. The company's stock had a trading volume of 721,945 shares, compared to its average volume of 385,540. The stock has a market capitalization of $2.57 billion, a P/E ratio of 27.16, a P/E/G ratio of 12.25 and a beta of 0.80. Silicon Motion Technology Corporation has a twelve month low of $37.21 and a twelve month high of $85.00. The stock's fifty day moving average price is $60.55 and its two-hundred day moving average price is $55.22.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $166.49 million for the quarter, compared to analyst estimates of $162.69 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm's quarterly revenue was down 12.1% compared to the same quarter last year. Equities analysts expect that Silicon Motion Technology Corporation will post 3.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SIMO shares. B. Riley reiterated a "buy" rating and set a $90.00 price objective (up previously from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Needham & Company LLC lowered their price objective on shares of Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. 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, June 18th. Roth Capital raised their price objective 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, June 17th. Finally, Citigroup upgraded shares of Silicon Motion Technology to a "buy" rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Silicon Motion Technology currently has a consensus rating of "Moderate Buy" and an average price target of $83.89.

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.