Silicon Motion Technology Corporation $SIMO Shares Sold by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas cut its holdings in Silicon Motion Technology Corporation (NASDAQ:SIMO) by 11.5% during the fourth quarter, HoldingsChannel reports. The firm owned 192,500 shares of the semiconductor producer’s stock after selling 25,000 shares during the period. Oddo BHF Asset Management Sas’ holdings in Silicon Motion Technology were worth $17,845,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in Silicon Motion Technology in the third quarter valued at $26,000. WealthCollab LLC increased its stake in Silicon Motion Technology by 77.4% in the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock valued at $32,000 after purchasing an additional 151 shares during the period. Arax Advisory Partners increased its stake in Silicon Motion Technology by 220.9% in the fourth quarter. Arax Advisory Partners now owns 446 shares of the semiconductor producer’s stock valued at $41,000 after purchasing an additional 307 shares during the period. EverSource Wealth Advisors LLC increased its stake in Silicon Motion Technology by 169.4% in the second quarter. EverSource Wealth Advisors LLC now owns 582 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 366 shares during the period. Finally, MeadowBrook Investment Advisors LLC acquired a new position in Silicon Motion Technology in the fourth quarter valued at $71,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.

Silicon Motion Technology Stock Down 1.5%

Shares of Silicon Motion Technology stock opened at $276.40 on Tuesday. Silicon Motion Technology Corporation has a 52-week low of $67.38 and a 52-week high of $314.34. The company’s 50-day simple moving average is $217.54 and its 200-day simple moving average is $149.19. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 54.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.72.

Silicon Motion Technology (NASDAQ:SIMO) last issued its earnings results on Tuesday, April 28th. The semiconductor producer reported $1.58 earnings per share for the quarter, topping 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 prior year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 105.5% compared to the same quarter last year. Equities research analysts anticipate that Silicon Motion Technology Corporation will post 7.65 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings lowered shares of Silicon Motion Technology from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Zacks Research upgraded shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Craig Hallum restated a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $205.63.

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.