Oberweis Asset Management Inc. reduced its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 43.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 157,900 shares of the semiconductor producer's stock after selling 119,400 shares during the period. Oberweis Asset Management Inc. owned approximately 0.47% of Silicon Motion Technology worth $8,534,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of SIMO. GAMMA Investing LLC lifted its stake in Silicon Motion Technology by 123.2% in the 4th quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock valued at $47,000 after acquiring an additional 484 shares in the last quarter. Blue Trust Inc. lifted its stake in Silicon Motion Technology by 64.7% in the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer's stock valued at $122,000 after acquiring an additional 883 shares during the last quarter. Choreo LLC bought a new position in shares of Silicon Motion Technology in the 4th quarter valued at about $209,000. Virtu Financial LLC acquired a new position in shares of Silicon Motion Technology during the 4th quarter worth about $208,000. Finally, HighTower Advisors LLC raised its holdings in shares of Silicon Motion Technology by 27.8% in the 3rd quarter. HighTower Advisors LLC now owns 3,954 shares of the semiconductor producer's stock valued at $240,000 after purchasing an additional 861 shares during the period. Institutional investors own 78.02% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on SIMO shares. Needham & Company LLC reissued a "buy" rating and set a $70.00 price target on shares of Silicon Motion Technology in a research report on Friday, February 7th. 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 report on Wednesday, April 23rd. Finally, StockNews.com lowered Silicon Motion Technology from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.00.
Read Our Latest Stock Analysis on Silicon Motion Technology
Silicon Motion Technology Trading Up 1.9 %
Silicon Motion Technology stock traded up $0.84 during mid-day trading on Tuesday, reaching $45.33. The company had a trading volume of 187,202 shares, compared to its average volume of 364,173. Silicon Motion Technology Co. has a fifty-two week low of $37.21 and a fifty-two week high of $85.87. The business has a fifty day simple moving average of $48.96 and a 200 day simple moving average of $52.73. The company has a market cap of $1.53 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.36 and a beta of 0.81.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its earnings results on Wednesday, February 5th. The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. Research analysts forecast that Silicon Motion Technology Co. will post 3.08 EPS for the current year.
Silicon Motion Technology announced that its Board of Directors has approved a share buyback plan on Wednesday, February 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor producer to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Silicon Motion Technology Company Profile
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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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