Jump Financial LLC lessened its position in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 78.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,755 shares of the semiconductor producer's stock after selling 28,921 shares during the period. Jump Financial LLC's holdings in Silicon Motion Technology were worth $419,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock worth $47,000 after purchasing an additional 484 shares in the last quarter. Blue Trust Inc. increased its holdings in Silicon Motion Technology by 64.7% in the 4th quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer's stock worth $122,000 after purchasing an additional 883 shares in the last quarter. Choreo LLC acquired a new position in Silicon Motion Technology in the 4th quarter worth about $209,000. Virtu Financial LLC acquired a new position in Silicon Motion Technology in the 4th quarter worth about $208,000. Finally, Quadrant Capital Group LLC increased its holdings in Silicon Motion Technology by 7.2% in the 4th quarter. Quadrant Capital Group LLC now owns 3,959 shares of the semiconductor producer's stock worth $214,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company's stock.
Silicon Motion Technology Stock Up 9.6 %
NASDAQ:SIMO traded up $4.34 on Wednesday, hitting $49.50. The stock had a trading volume of 1,495,122 shares, compared to its average volume of 371,396. The business's fifty day moving average is $48.49 and its 200 day moving average is $52.65. The company has a market cap of $1.67 billion, a PE ratio of 18.40, a P/E/G ratio of 1.36 and a beta of 0.81. Silicon Motion Technology Co. has a 52 week low of $37.21 and a 52 week high of $85.87.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced 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. The business had revenue of $166.49 million for the quarter, compared to analyst estimates of $162.69 million. Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. The company's quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities analysts predict that Silicon Motion Technology Co. will post 3.08 earnings per share for the current fiscal year.
Silicon Motion Technology declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor producer to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
SIMO has been the subject of a number of recent research reports. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Silicon Motion Technology in a report on Wednesday. StockNews.com cut Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Bank of America raised Silicon Motion Technology from an "underperform" rating to a "neutral" rating and set a $47.00 price target for the company in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC decreased their price target on Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.38.
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Silicon Motion Technology Company Profile
(
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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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