Squarepoint Ops LLC acquired a new position in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,739 shares of the semiconductor producer's stock, valued at approximately $256,000.
Several other hedge funds and other institutional investors have also bought and sold shares of SIMO. Choreo LLC purchased a new position in shares of Silicon Motion Technology during the 4th quarter valued at $209,000. Van ECK Associates Corp lifted its position in shares of Silicon Motion Technology by 204.6% during the 4th quarter. Van ECK Associates Corp now owns 8,271 shares of the semiconductor producer's stock valued at $447,000 after buying an additional 5,556 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Silicon Motion Technology by 8.7% during the 4th quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer's stock valued at $306,000 after buying an additional 453 shares during the last quarter. TradeLink Capital LLC purchased a new position in shares of Silicon Motion Technology during the 4th quarter valued at $228,000. Finally, Inspire Advisors LLC lifted its position in shares of Silicon Motion Technology by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer's stock valued at $704,000 after buying an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company's stock.
Silicon Motion Technology Trading Down 0.0%
Shares of SIMO traded down $0.02 during midday trading on Wednesday, reaching $66.99. The stock had a trading volume of 307,912 shares, compared to its average volume of 388,904. The company's 50-day moving average is $53.30 and its 200 day moving average is $53.93. Silicon Motion Technology Co. has a 12-month low of $37.21 and a 12-month high of $85.87. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.36 and a beta of 0.80.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor producer reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. The firm had revenue of $166.49 million during the quarter, compared to analysts' expectations of $162.69 million. During the same period in the prior year, the business earned $0.64 EPS. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. Research analysts forecast that Silicon Motion Technology Co. will post 3.08 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on SIMO. Bank of America upgraded Silicon Motion Technology from an "underperform" rating to a "neutral" rating and set a $47.00 price objective on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC decreased their price objective on 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. B. Riley reiterated a "buy" rating and set a $90.00 price objective (up from $75.00) on shares of Silicon Motion Technology in a research note on Thursday, June 5th. Wall Street Zen lowered Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.75.
Check Out Our Latest Research Report on SIMO
About Silicon Motion Technology
(
Free Report)
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.
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