2 weeks Ago By ABMN Staff
Cerity Partners LLC cut its position in shares of Silicon Motion Technology Co. ( NASDAQ:SIMO – Free Report ) by 23.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The institutional investor owned 23,115 shares of the semiconductor producer’s stock after selling 6,954 shares during the quarter. Cerity Partners LLC owned 0.07% of Silicon Motion Technology worth $1,250,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SIMO. HighTower Advisors LLC grew its stake in Silicon Motion Technology by 27.8% in the third quarter.
HighTower Advisors LLC now owns 3,954 shares of the semiconductor producer’s stock valued at $240,000 after purchasing an additional 861 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Silicon Motion Technology by 30.3% in the third quarter.
Stifel Financial Corp now owns 12,175 shares of the semiconductor producer’s stock worth $739,000 after purchasing an additional 2,833 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Silicon Motion Technology by 0.7% during the third quarter.
Geode Capital Management LLC now owns 35,948 shares of the semiconductor producer’s stock worth $2,183,000 after buying an additional 253 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Silicon Motion Technology during the 3rd quarter valued at $13,211,000. Finally, 272 Capital LP lifted its stake in shares of Silicon Motion Technology by 55.
3% in the third quarter. 272 Capital LP now owns 101,391 shares of the semiconductor producer’s stock valued at $6,158,000 after buying an additional 36,092 shares during the period. Institutional investors and hedge funds own 78.
02% of the company’s stock. Silicon Motion Technology Price Performance SIMO stock opened at $39.22 on Friday.
The business has a fifty day moving average price of $50.70 and a 200 day moving average price of $53.58.
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 capitalization of $1.32 billion, a price-to-earnings ratio of 14.
58, a P/E/G ratio of 1.36 and a beta of 0.81.
Silicon Motion Technology announced that its board has authorized a share repurchase program on Wednesday, February 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor producer to reacquire up to 2.
6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued. Wall Street Analyst Weigh In A number of research analysts recently commented on the company.
StockNews.com lowered Silicon Motion Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $70.
00 target price on shares of Silicon Motion Technology in a research report on Friday, February 7th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research note on Monday, December 23rd.
One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silicon Motion Technology has a consensus rating of “Moderate Buy” and a consensus price target of $80.
63. View Our Latest Research Report on Silicon Motion Technology About Silicon Motion Technology ( 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.
Featured Articles Want to see what other hedge funds are holding SIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Motion Technology Co. ( NASDAQ:SIMO – Free Report ).
Receive News & Ratings for Silicon Motion Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Motion Technology and related companies with MarketBeat.com's FREE daily email newsletter ..
