Silicon Motion Technology Corporation $SIMO is Heartland Advisors Inc.’s 7th Largest Position

Heartland Advisors Inc. lessened its holdings in shares of Silicon Motion Technology Corporation (NASDAQ:SIMO) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,398 shares of the semiconductor producer’s stock after selling 83,372 shares during the period. Silicon Motion Technology makes up approximately 1.4% of Heartland Advisors Inc.’s portfolio, making the stock its 7th biggest holding. Heartland Advisors Inc.’s holdings in Silicon Motion Technology were worth $25,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SIMO. Brown Brothers Harriman & Co. acquired a new position in Silicon Motion Technology during the third quarter worth $26,000. WealthCollab LLC grew its holdings in Silicon Motion Technology by 77.4% during the fourth quarter. WealthCollab LLC now owns 346 shares of the semiconductor producer’s stock worth $32,000 after acquiring an additional 151 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in Silicon Motion Technology in the fourth quarter valued at $71,000. Finally, Raymond James Financial Inc. acquired a new stake in Silicon Motion Technology in the second quarter valued at $75,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Wall Street Analyst Weigh In

SIMO has been the topic of several research reports. Susquehanna upped their target price on Silicon Motion Technology from $175.00 to $275.00 and gave the company a “positive” rating in a report on Thursday, April 30th. B. Riley Financial reissued a “buy” rating on shares of Silicon Motion Technology in a report on Thursday, April 30th. Craig Hallum reaffirmed a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on Silicon Motion Technology from $145.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Zacks Research raised Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $205.63.

Silicon Motion Technology Trading Down 3.1%

NASDAQ SIMO opened at $251.68 on Thursday. The business’s 50-day moving average price is $207.77 and its 200 day moving average price is $145.10. The company has a market capitalization of $8.53 billion, a PE ratio of 50.04, a price-to-earnings-growth ratio of 0.63 and a beta of 1.72. Silicon Motion Technology Corporation has a twelve month low of $66.07 and a twelve month high of $314.34.

Silicon Motion Technology (NASDAQ:SIMO) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.27. The company had revenue of $342.11 million for the quarter, compared to the consensus estimate of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.The company’s quarterly revenue was up 105.5% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. Equities analysts predict that Silicon Motion Technology Corporation will post 7.65 EPS for the current year.

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.