Systematic Financial Management LP Trims Stake in Silicon Motion Technology Corporation $SIMO

Systematic Financial Management LP decreased its position in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 582,826 shares of the semiconductor producer’s stock after selling 5,491 shares during the period. Silicon Motion Technology comprises about 1.3% of Systematic Financial Management LP’s holdings, making the stock its 12th largest holding. Systematic Financial Management LP’s holdings in Silicon Motion Technology were worth $54,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Apis Capital Advisors LLC grew its stake in shares of Silicon Motion Technology by 11.7% in the 3rd quarter. Apis Capital Advisors LLC now owns 286,000 shares of the semiconductor producer’s stock worth $27,116,000 after buying an additional 30,000 shares during the last quarter. Neumeier Poma Investment Counsel LLC grew its stake in shares of Silicon Motion Technology by 10.7% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 478,463 shares of the semiconductor producer’s stock worth $45,363,000 after buying an additional 46,208 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Silicon Motion Technology by 44.3% in the 4th quarter. SG Americas Securities LLC now owns 16,290 shares of the semiconductor producer’s stock worth $1,510,000 after buying an additional 5,002 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Silicon Motion Technology in the 3rd quarter worth approximately $6,210,000. Finally, UBS Group AG grew its stake in shares of Silicon Motion Technology by 39.0% in the 4th quarter. UBS Group AG now owns 351,541 shares of the semiconductor producer’s stock worth $32,588,000 after buying an additional 98,548 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Susquehanna upped their price target on Silicon Motion Technology from $175.00 to $275.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. Roth Mkm restated a “buy” rating and issued a $250.00 price target on shares of Silicon Motion Technology in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Zacks Research upgraded Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $205.63.

Silicon Motion Technology Trading Up 4.8%

Shares of SIMO opened at $276.14 on Friday. The business’s fifty day simple moving average is $166.53 and its two-hundred day simple moving average is $127.65. Silicon Motion Technology Corporation has a 12 month low of $60.35 and a 12 month high of $278.50. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 0.85 and a beta of 1.67.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.31 by $0.27. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The business had revenue of $342.11 million for the quarter, compared to the consensus estimate of $299.53 million. During the same period last year, the business posted $0.60 EPS. The company’s revenue was up 105.5% compared to the same quarter last year. As a group, research analysts forecast that Silicon Motion Technology Corporation will post 7.77 EPS for the current year.

Silicon Motion Technology 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.