Silicon Motion Technology Corporation $SIMO Position Cut by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp reduced its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 51.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 recently added to or reduced their stakes in SIMO. Frontier Capital Management Co. LLC increased its holdings in shares of Silicon Motion Technology by 115.4% during the second quarter. Frontier Capital Management Co. LLC now owns 1,281,115 shares of the semiconductor producer’s stock valued at $96,301,000 after purchasing an additional 686,261 shares during the period. Ophir Asset Management Pty Ltd acquired a new stake in Silicon Motion Technology in the second quarter worth about $27,941,000. Boston Partners lifted its holdings in Silicon Motion Technology by 33.2% in the second quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after purchasing an additional 183,458 shares during the period. Hawk Ridge Capital Management LP grew its position in Silicon Motion Technology by 71.8% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 372,747 shares of the semiconductor producer’s stock valued at $35,340,000 after buying an additional 155,817 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Silicon Motion Technology by 44.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 442,747 shares of the semiconductor producer’s stock valued at $41,977,000 after buying an additional 135,627 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SIMO shares. Weiss Ratings restated a “buy (b-)” rating on shares of Silicon Motion Technology in a research report on Monday, December 29th. Wall Street Zen cut shares of Silicon Motion Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday. Needham & Company LLC raised their price objective on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. William Blair began coverage on Silicon Motion Technology in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Finally, Roth Mkm set a $140.00 target price on Silicon Motion Technology and gave the stock a “buy” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Silicon Motion Technology has a consensus rating of “Buy” and a consensus price target of $132.50.

Silicon Motion Technology Price Performance

NASDAQ SIMO opened at $125.97 on Tuesday. The company’s 50 day simple moving average is $123.41 and its 200 day simple moving average is $102.21. Silicon Motion Technology Corporation has a 12 month low of $37.21 and a 12 month high of $146.85. The company has a market capitalization of $4.28 billion, a P/E ratio of 34.61, a PEG ratio of 0.82 and a beta of 1.02.

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.