Silicon Motion Technology Corporation $SIMO Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp cut its stake in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 51.8% during the third quarter, Holdings Channel reports. The firm owned 13,965 shares of the semiconductor producer’s stock after selling 15,031 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Silicon Motion Technology were worth $1,324,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SIMO. Boston Partners raised its holdings in Silicon Motion Technology by 33.2% during the 2nd quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after buying an additional 183,458 shares during the period. XTX Topco Ltd acquired a new position in shares of Silicon Motion Technology in the second quarter worth about $1,780,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Silicon Motion Technology in the second quarter worth about $263,000. SG Americas Securities LLC purchased a new position in shares of Silicon Motion Technology in the third quarter worth approximately $1,070,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Silicon Motion Technology in the second quarter worth approximately $288,000. 78.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SIMO. Roth Mkm set a $140.00 price objective on shares of Silicon Motion Technology and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Wall Street Zen lowered Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday. Craig Hallum reaffirmed a “buy” rating and issued a $160.00 target price on shares of Silicon Motion Technology in a research report on Thursday, February 5th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $132.50.

Silicon Motion Technology Trading Up 2.2%

SIMO opened at $125.97 on Tuesday. The stock has a fifty day moving average price of $123.41 and a 200 day moving average price of $102.21. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $146.85. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 0.82 and a beta of 1.02.

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.