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

Skylands Capital LLC reduced its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 25.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,594 shares of the semiconductor producer’s stock after selling 13,406 shares during the quarter. Skylands Capital LLC owned approximately 0.11% of Silicon Motion Technology worth $3,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners boosted its holdings in shares of Silicon Motion Technology by 33.2% in the 2nd quarter. Boston Partners now owns 735,597 shares of the semiconductor producer’s stock worth $55,294,000 after buying an additional 183,458 shares during the last quarter. XTX Topco Ltd bought a new stake in Silicon Motion Technology in the second quarter worth about $1,780,000. Elevation Point Wealth Partners LLC purchased a new position in Silicon Motion Technology in the second quarter valued at about $263,000. SG Americas Securities LLC purchased a new position in Silicon Motion Technology in the third quarter valued at about $1,070,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Silicon Motion Technology during the 2nd quarter valued at approximately $288,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Price Performance

NASDAQ:SIMO opened at $131.32 on Wednesday. Silicon Motion Technology Corporation has a 1 year low of $37.21 and a 1 year high of $138.00. The stock’s fifty day moving average price is $104.67 and its two-hundred day moving average price is $93.22. The company has a market cap of $4.46 billion, a P/E ratio of 36.08, a P/E/G ratio of 0.94 and a beta of 1.06.

Analysts Set New Price Targets

A number of research firms recently commented on SIMO. Needham & Company LLC lifted their price target on shares of Silicon Motion Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Wedbush increased their price objective on Silicon Motion Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their target price on Silicon Motion Technology from $85.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. William Blair initiated coverage on Silicon Motion Technology in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Silicon Motion Technology in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $132.50.

Silicon Motion Technology 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.