Skylands Capital LLC Sells 13,406 Shares of Silicon Motion Technology Corporation $SIMO

Skylands Capital LLC lowered its position in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 25.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,594 shares of the semiconductor producer’s stock after selling 13,406 shares during the period. Skylands Capital LLC’s holdings in Silicon Motion Technology were worth $3,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Reinhart Partners LLC. grew its position in Silicon Motion Technology by 2.0% during the third quarter. Reinhart Partners LLC. now owns 1,500,934 shares of the semiconductor producer’s stock worth $142,305,000 after buying an additional 29,351 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Silicon Motion Technology by 4.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,310,353 shares of the semiconductor producer’s stock valued at $98,453,000 after acquiring an additional 51,978 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Silicon Motion Technology by 115.4% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after acquiring an additional 686,261 shares during the last quarter. Pertento Partners LLP grew its holdings in shares of Silicon Motion Technology by 4.1% during the second quarter. Pertento Partners LLP now owns 1,259,004 shares of the semiconductor producer’s stock worth $94,639,000 after purchasing an additional 49,541 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Silicon Motion Technology by 19.8% in the second quarter. Lazard Asset Management LLC now owns 765,922 shares of the semiconductor producer’s stock worth $57,573,000 after purchasing an additional 126,566 shares during the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SIMO shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Silicon Motion Technology in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Needham & Company LLC upped their price objective on Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Wall Street Zen upgraded Silicon Motion Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Craig Hallum restated a “buy” rating and issued a $160.00 target price on shares of Silicon Motion Technology in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $132.50.

Silicon Motion Technology Trading Down 4.5%

Shares of NASDAQ:SIMO opened at $131.32 on Wednesday. The stock has a market capitalization of $4.46 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 0.94 and a beta of 1.06. The stock’s 50-day moving average price is $104.67 and its 200-day moving average price is $93.22. Silicon Motion Technology Corporation has a 12-month low of $37.21 and a 12-month high of $138.00.

About Silicon Motion Technology

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.