Invesco Ltd. increased its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,038,779 shares of the semiconductor producer's stock after buying an additional 192,646 shares during the quarter. Invesco Ltd. owned 3.08% of Silicon Motion Technology worth $56,146,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in SIMO. GAMMA Investing LLC raised its position in shares of Silicon Motion Technology by 123.2% during the fourth quarter. GAMMA Investing LLC now owns 877 shares of the semiconductor producer's stock worth $47,000 after purchasing an additional 484 shares during the period. Blue Trust Inc. boosted its holdings in shares of Silicon Motion Technology by 64.7% in the fourth quarter. Blue Trust Inc. now owns 2,248 shares of the semiconductor producer's stock valued at $122,000 after buying an additional 883 shares during the period. Choreo LLC bought a new stake in shares of Silicon Motion Technology during the fourth quarter worth $209,000. Virtu Financial LLC acquired a new stake in shares of Silicon Motion Technology during the fourth quarter worth $208,000. Finally, HighTower Advisors LLC lifted its position in Silicon Motion Technology by 27.8% in the 3rd quarter. HighTower Advisors LLC now owns 3,954 shares of the semiconductor producer's stock valued at $240,000 after acquiring an additional 861 shares in the last quarter. Institutional investors and hedge funds own 78.02% of the company's stock.
Silicon Motion Technology Price Performance
NASDAQ SIMO traded down $0.62 during trading on Friday, reaching $39.22. 327,460 shares of the company's stock were exchanged, compared to its average volume of 358,834. The stock has a market capitalization of $1.32 billion, a P/E ratio of 14.58, a PEG ratio of 1.36 and a beta of 0.81. Silicon Motion Technology Co. has a fifty-two week low of $37.21 and a fifty-two week high of $85.87. The business has a 50 day moving average price of $50.70 and a 200-day moving average price of $53.58.
Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The semiconductor producer reported $0.68 earnings per share 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, analysts forecast that Silicon Motion Technology Co. will post 3.08 earnings per share for the current year.
Silicon Motion Technology declared that its board has authorized a stock repurchase program on Wednesday, February 5th that permits the company to buyback $50.00 million in outstanding 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 often a sign that the company's board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on SIMO shares. Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Silicon Motion Technology in a research report on Monday, December 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price objective on shares of Silicon Motion Technology in a report on Friday, February 7th. Finally, StockNews.com downgraded shares of Silicon Motion Technology from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Silicon Motion Technology presently has a consensus rating of "Moderate Buy" and an average price target of $80.63.
Check Out Our Latest Stock Report on Silicon Motion Technology
Silicon Motion Technology Profile
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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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