Schwartz Investment Counsel Inc. Purchases 40,000 Shares of Silicon Motion Technology Co. (NASDAQ:SIMO)

Schwartz Investment Counsel Inc. increased its holdings in shares of Silicon Motion Technology Co. (NASDAQ:SIMO - Free Report) by 26.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 190,000 shares of the semiconductor producer's stock after buying an additional 40,000 shares during the quarter. Schwartz Investment Counsel Inc. owned 0.56% of Silicon Motion Technology worth $11,541,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SIMO. Blue Trust Inc. grew its stake in shares of Silicon Motion Technology by 3,971.4% during the second quarter. Blue Trust Inc. now owns 570 shares of the semiconductor producer's stock worth $44,000 after buying an additional 556 shares during the last quarter. Headlands Technologies LLC bought a new stake in Silicon Motion Technology during the 2nd quarter worth $139,000. LRI Investments LLC acquired a new stake in shares of Silicon Motion Technology during the first quarter valued at about $150,000. PNC Financial Services Group Inc. grew its holdings in shares of Silicon Motion Technology by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the semiconductor producer's stock worth $155,000 after purchasing an additional 821 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new position in shares of Silicon Motion Technology in the first quarter valued at approximately $204,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Silicon Motion Technology Trading Down 0.3 %

SIMO stock traded down $0.18 during mid-day trading on Friday, reaching $56.06. The company's stock had a trading volume of 187,054 shares, compared to its average volume of 379,671. Silicon Motion Technology Co. has a 12 month low of $51.85 and a 12 month high of $85.87. The business's 50 day moving average price is $59.31 and its 200 day moving average price is $69.96. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83.

Silicon Motion Technology (NASDAQ:SIMO - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The semiconductor producer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $210.67 million during the quarter, compared to the consensus estimate of $206.75 million. Silicon Motion Technology had a net margin of 10.14% and a return on equity of 10.31%. The company's quarterly revenue was up 50.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. As a group, equities analysts expect that Silicon Motion Technology Co. will post 2.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. B. Riley cut their target price on shares of Silicon Motion Technology from $112.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Needham & Company LLC lifted their price target on shares of Silicon Motion Technology from $85.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, July 8th. Wedbush restated an "outperform" rating and issued a $90.00 price objective on shares of Silicon Motion Technology in a report on Wednesday, October 2nd. StockNews.com raised Silicon Motion Technology from a "hold" rating to a "buy" rating in a research report on Saturday, September 14th. Finally, Roth Mkm reduced their price target on Silicon Motion Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.11.

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.