1 week Ago By Defense World Staff
Envestnet Asset Management Inc. lessened its stake in shares of Silicon Motion Technology Co. (NASDAQ:SIMO – Free Report) by 4.
7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 52,840 shares of the semiconductor producer’s stock after selling 2,612 shares during the period. Envestnet Asset Management Inc.
owned 0.16% of Silicon Motion Technology worth $2,856,000 as of its most recent SEC filing. A number of other hedge funds and other institutional investors have also bought and sold shares of SIMO.
Geode Capital Management LLC increased its holdings in Silicon Motion Technology by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer’s stock valued at $2,183,000 after acquiring an additional 253 shares during the last quarter.
Rhumbline Advisers raised its holdings in shares of Silicon Motion Technology by 8.7% during the 4th quarter. Rhumbline Advisers now owns 5,668 shares of the semiconductor producer’s stock worth $306,000 after acquiring an additional 453 shares in the last quarter.
Inspire Advisors LLC grew its holdings in shares of Silicon Motion Technology by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 13,026 shares of the semiconductor producer’s stock valued at $704,000 after purchasing an additional 467 shares in the last quarter.
GAMMA Investing LLC raised its stake in Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer’s stock valued at $47,000 after purchasing an additional 484 shares in the last quarter.
Finally, Janney Montgomery Scott LLC grew its stake in shares of Silicon Motion Technology by 0.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 85,265 shares of the semiconductor producer’s stock worth $4,609,000 after buying an additional 752 shares in the last quarter.
Hedge funds and other institutional investors own 78.02% of the company’s stock. Silicon Motion Technology Stock Up 2.
4 %Shares of NASDAQ:SIMO opened at $45.11 on Friday. The business’s 50 day moving average is $49.
25 and its 200 day moving average is $52.94. The stock has a market cap of $1.
52 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.36 and a beta of 0.
81. Silicon Motion Technology Co. has a 52-week low of $37.
21 and a 52-week high of $85.87. Silicon Motion Technology (NASDAQ:SIMO – Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th.
The semiconductor producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.
10). Silicon Motion Technology had a net margin of 11.29% and a return on equity of 11.
63%. On average, sell-side analysts anticipate that Silicon Motion Technology Co. will post 3.
08 EPS for the current fiscal year. Silicon Motion Technology declared that its Board of Directors has approved a share repurchase program on Wednesday, February 5th that allows the company to repurchase $50.00 million in shares.
This repurchase authorization allows the semiconductor producer to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Analyst Ratings ChangesSIMO has been the topic of several analyst reports. StockNews.com cut Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th.
Bank of America raised shares of Silicon Motion Technology from an “underperform” rating to a “neutral” rating and set a $47.00 price target for the company in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.
00 target price on shares of Silicon Motion Technology in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.
00.Get Our Latest Research Report on Silicon Motion TechnologySilicon Motion Technology Profile (Free Report)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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