Marshall Wace LLP Decreases Stock Position in Silicon Motion Technology Co. (NASDAQ:SIMO)

Marshall Wace LLP trimmed its position in Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 58.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,667 shares of the semiconductor producer's stock after selling 67,627 shares during the quarter. Marshall Wace LLP owned 0.14% of Silicon Motion Technology worth $2,630,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Pertento Partners LLP grew its holdings in shares of Silicon Motion Technology by 31.2% during the fourth quarter. Pertento Partners LLP now owns 1,166,914 shares of the semiconductor producer's stock worth $63,072,000 after purchasing an additional 277,462 shares in the last quarter. Wellington Management Group LLP increased its stake in Silicon Motion Technology by 40.1% in the 4th quarter. Wellington Management Group LLP now owns 797,192 shares of the semiconductor producer's stock worth $43,088,000 after purchasing an additional 228,333 shares during the period. Oddo BHF Asset Management Sas bought a new stake in Silicon Motion Technology during the 3rd quarter valued at $13,211,000. Lord Abbett & CO. LLC grew its stake in shares of Silicon Motion Technology by 21.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,103,913 shares of the semiconductor producer's stock worth $67,051,000 after purchasing an additional 196,609 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Silicon Motion Technology by 22.8% during the fourth quarter. Invesco Ltd. now owns 1,038,779 shares of the semiconductor producer's stock valued at $56,146,000 after buying an additional 192,646 shares during the period. Institutional investors own 78.02% of the company's stock.

Silicon Motion Technology Trading Up 9.6 %

SIMO traded up $4.34 on Wednesday, hitting $49.50. 1,495,122 shares of the company's stock were exchanged, compared to its average volume of 370,688. Silicon Motion Technology Co. has a fifty-two week low of $37.21 and a fifty-two week high of $85.87. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.36 and a beta of 0.81. The firm has a 50-day moving average price of $48.67 and a 200-day moving average price of $52.68.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The semiconductor producer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.44 by $0.16. The firm had revenue of $166.49 million during the quarter, compared to analysts' expectations of $162.69 million. Silicon Motion Technology had a return on equity of 11.63% and a net margin of 11.29%. The business's revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. On average, equities analysts predict that Silicon Motion Technology Co. will post 3.08 EPS for the current year.

Silicon Motion Technology declared that its board has initiated a stock buyback program on Wednesday, February 5th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the semiconductor producer to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SIMO shares. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday. Bank of America upgraded Silicon Motion Technology from an "underperform" rating to a "neutral" rating and set a $47.00 price objective for the company in a research note on Wednesday, April 23rd. StockNews.com lowered Silicon Motion Technology from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC decreased their price target 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.38.

Silicon Motion Technology Company 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.