Silicon Motion Technology Co. (NASDAQ:SIMO) Holdings Raised by Systematic Financial Management LP

Systematic Financial Management LP grew its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 19.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 589,409 shares of the semiconductor producer's stock after purchasing an additional 95,081 shares during the period. Systematic Financial Management LP owned approximately 1.75% of Silicon Motion Technology worth $31,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Lord Abbett & CO. LLC grew its stake in shares of 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 acquiring an additional 221,017 shares during the last quarter. 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 during the last quarter. Invesco Ltd. increased its stake in Silicon Motion Technology by 22.8% during the 4th quarter. Invesco Ltd. now owns 1,038,779 shares of the semiconductor producer's stock worth $56,146,000 after purchasing an additional 192,646 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Silicon Motion Technology by 40.1% during the 4th 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, The Manufacturers Life Insurance Company boosted its holdings in shares of Silicon Motion Technology by 33.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 763,419 shares of the semiconductor producer's stock valued at $41,263,000 after buying an additional 192,603 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Silicon Motion Technology Price Performance

SIMO opened at $63.21 on Friday. Silicon Motion Technology Co. has a 12 month low of $37.21 and a 12 month high of $85.87. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.36 and a beta of 0.72. The business has a 50-day moving average of $48.55 and a two-hundred day moving average of $52.51.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The semiconductor producer reported $0.60 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 the consensus estimate of $162.69 million. During the same period in the prior year, the business earned $0.64 EPS. The firm's revenue was down 12.1% on a year-over-year basis. Equities research analysts anticipate that Silicon Motion Technology Co. will post 3.08 earnings per share for the current year.

Silicon Motion Technology declared that its board has approved a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor producer to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com cut Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Needham & Company LLC dropped their price target on Silicon Motion Technology from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of Silicon Motion Technology in a research report on Wednesday, April 30th. B. Riley lifted their price target on shares of Silicon Motion Technology from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, 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 research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.88.

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.

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