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

Lombard Odier Asset Management USA Corp reduced its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 44.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,757 shares of the semiconductor producer’s stock after selling 6,208 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Silicon Motion Technology were worth $719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in Silicon Motion Technology in the 3rd quarter worth approximately $26,000. WealthCollab LLC increased its holdings in Silicon Motion Technology by 77.4% in the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Arax Advisory Partners grew its stake in shares of Silicon Motion Technology by 220.9% in the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock worth $41,000 after acquiring an additional 307 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Silicon Motion Technology by 169.4% during the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 366 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of Silicon Motion Technology in the 4th quarter worth approximately $71,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Silicon Motion Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Wedbush raised their price target on shares of Silicon Motion Technology from $180.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Susquehanna lifted their price objective on shares of Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, B. Riley Financial reiterated a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $205.63.

Silicon Motion Technology Trading Up 2.3%

Shares of SIMO opened at $282.68 on Wednesday. The stock’s 50 day moving average is $220.91 and its two-hundred day moving average is $150.57. The firm has a market cap of $9.59 billion, a P/E ratio of 56.20, a PEG ratio of 0.67 and a beta of 1.72. Silicon Motion Technology Corporation has a 12 month low of $68.41 and a 12 month high of $314.34.

Silicon Motion Technology (NASDAQ:SIMO) last posted its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.27. Silicon Motion Technology had a net margin of 16.02% and a return on equity of 20.24%. The company had revenue of $342.11 million for the quarter, compared to analyst estimates of $299.53 million. During the same period in the previous year, the business posted $0.60 EPS. Silicon Motion Technology’s revenue was up 105.5% on a year-over-year basis. Equities research analysts forecast that Silicon Motion Technology Corporation will post 7.65 EPS for the current year.

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.